Unilever has sold its Elizabeth Arden business to US company French Fragrances Inc for $225 million, as part of Unilever’s program to shed operations that don’t meet its strategic needs.
Unilever’s other brands include Calvin Klein Cosmetics, Nautica fragrances, Fabergé, Magnum Ice Cream and Lipton Tea.
FFI, based in Miami Lakes, whose brands include Grey Flannel and Halston, will also acquire the Elizabeth Taylor brands of “Passion” and “White Diamonds”.
However Unilever retain the rights to Arden’s Prestige fragrance brands which include: Cerruti, Valentino, Lagerfeld and Chloe.
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