“It’s not about conquering the world, but rather being a presence in the cool cities of the world,” he said. London, Hong Kong and Shanghai are also on the horizon. Rather than open permanent new salons, Fekkai plans on opening pop-ups in key locations during inflection points throughout the year - for example, he envisions a pop-up salon in Los Angeles during awards season. We need to figure out products that are relevant to the world of today.” When I touch my customer’s hair, when I see their color, hear their challenges, I know what they need. “To be an innovator, you need to be in the business. It’s something you can not sell on Amazon - you can’t buy the experience on the Internet,” he said. That is what drives me.” He plans on being a strong presence in the salons - working on a few select clients, overseeing the development and education of stylists and interacting with salon-goers to learn about what they want and need. “I don’t want to rewrite the same book,” he said. The salon side of the business has changed dramatically, too, particularly with the rise of ‘bar’ concepts like Drybar for styling and blowouts and Madison Reed for color.įekkai seems eager to take on the challenge, thrumming with excitement as he talked about his plans for the brand and acknowledging that the world is very different from when he first launched.
#Frederic fekkai professional#
Companies like Luxury Brand Partners, the creator of Oribe Hair Care, among others, have emerged as key players in the prestige and professional segments, and a new generation of star stylists, like Ouai’s Jen Atkin, have used social media to parlay their fame into burgeoning brands. Moreover, the competition has changed drastically from when Fekkai first launched. Opening a new one represents a significant capital expenditure. Meanwhile, Fekkai’s marquee salon, located in Henri Bendel’s Fifth Avenue flagship, will be forced to relocate in December when that store closes permanently. On the product side, the mass market hair-care business remains difficult, and some analysts believe much of the brand’s sales come from diverted products in the gray market.
#Frederic fekkai plus#
“The good news is the brand has great recognition and the salons are still well-run - the teams are well trained, the products are well-designed,” said Fekkai, who noted that another plus is that the two-tier distribution structure of the existing brands gives the company cross-channel exposure, particularly in the fast-growing prestige hair-care category.īut there are significant challenges, too, say industry insiders. (Cornell, who founded Goldman Sachs’ principal investment business in Asia in 1992, is said to have considerable expertise in this area).
Priorities include ramping up product development, introducing pop-up salon formats, building a digital presence for the brand and expanding internationally - particularly in Hong Kong and China. I will be there, working in all of the departments - in the salon, marketing, product development.”įekkai is very clear on the direction he wants to head. “The brand needs a leader,” he continued, “someone who knows what they’re doing, who the team can respect. “It’s like when you’re buying a car, but you have to wait six months for it to be delivered. “It sounds fast, but for me it was painful,” he said. In an exclusive interview with WWD, Fekkai laughed when the speed of the deal this time around was remarked upon. The answer was yes, and Fekkai was able to put the financing together over the summer. Determined to regain control of his name and his brand, Fekkai reached out last May to owners Dilesh Mehta and Tony Bajaj and asked if they’d be interested in selling. In 2008, Procter & Gamble bought Fekkai for a reported $440 million, before selling it in 2015 for an estimated $50 million.Īt the time, reports swirled that Fekkai was keen to buy back the business, but the entrepreneur was unable to put a deal together. Almost a decade later, they parted ways and the brand was acquired by Catterton Partners. Fekkai first introduced his product range in 1995 as part of a joint venture with Chanel. The deal marks the fourth time the 23-year-old Fekkai brand has been sold. “Leveraging Cornell Capital’s cross-border network and operational expertise, and Frédéric’s deep relationships and reputation within the industry, Fekkai Brands is well-positioned to succeed in the growing global cosmetics and personal-care industry.” “The opportunity to partner with Frédéric, a proven entrepreneur in the beauty sector, as he returns to the helm of his iconic brand is truly compelling,” said Cornell.
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