PZ Cussons not selling St Tropez brand, gives it new strategic direction, strikes US deal with Emerson
Personal care specialist PZ Cussons announced on Thursday that it won't be selling its St Tropez self-tan brand after all and that it will 'set a new strategic direction' for the business.
The company had put the brand up for sale back in April as part of a broader plan to refocus its portfolio. It has since run an 'extensive auction process which resulted in a number of offers being received. This has been against a backdrop of a challenging performance for the business, with a revenue decline in FY25 in the US and a wider contraction of valuation multiples across the Beauty category'.
During the time since it went up for sale, PZ Cussons has 'explored a number of alternative business models' for St Tropez that it said 'could create more value for shareholders. As such, and after careful evaluation of the offers received', the board has decided to hold on to it and set that new strategic direction.
So what happens now? PZ Cussons will 'establish a focused team to lead the St Tropez brand across the group's international footprint. This team will be incentivised against the identified value drivers of the business: winning in-market execution including digital activation, re-igniting innovation and rejuvenating the brand's equity'.
It added that a 'critical component of the plan includes the formation of a strategic partnership with The Emerson Group…. a leading, US-based partner to brand owners'.
Emerson is to provide customer management, logistics services and brand activation in the US with St Tropez integrated into its dedicated selling teams to key US retailers. PZ Cussons said this deal builds on its existing relationship with Emerson as the distributor of Childs Farm in the US.
The company said it's 'confident' this will return St Tropez to US growth and 'help address the challenge of our sub-scale operations' there.
There's clearly a lot of work to do to get St Tropez back to full health and the company added that 'reflecting the recent performance of St Tropez, the group expects to record a non-cash impairment with its FY25 results announcement in September. St Tropez contributed £7.5 million of adjusted operating profit in FY25'. We'll hear further details about that and about its future plans for the brand in September.
PZ Cussons CEO Jonathan Myers said of all this: 'Today we are setting a new direction for St Tropez with a renewed operating model built around a focused and incentivised team, a reset of our 'go to market' capabilities in the US and proven group operations in our other markets. With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
6 hours ago
- Euronews
Amazon no show in European Parliament ires EU lawmakers, unions
Unions and lawmakers have called to increase measures on top of Amazon's access restriction to the European Parliament after the US tech giant failed to deliver a senior manager before the Parliament's Employment and Social Affairs Committee (EMPL) committee for a grilling on workers' conditions on Thursday. The Parliament has made the hearing a precondition for Amazon regaining access to its premises, after the tech giant's access badges were withdrawn in February last year because the company failed to attend a series of hearings and factory visits in 2021 and 2023 related to workers' rights. Amazon previously said it would send two Europe-based vice-presidents based on their expertise, rather than Senior Vice President Russell Grandinetti, who the committee had asked to see, as Euronews reported. The committee refused to accept the change of speakers and therefore the hearing went ahead without Amazon. An Amazon spokesperson said the company was 'disappointed' by the committee's decision. 'We were ready and willing to share information about our operations in the European Union and our efforts to set the standard for a safe and modern working environment in the logistics industry,' the statement said. In a letter seen by Euronews, Amazon wrote to the President of the Parliament, Roberta Metsola, on Monday suggesting setting up a meeting with Senior Vice President for Global Affairs & Legal, David Zapolsky, in Washington, to 'discuss broader policy issues of interest' to the Parliament. EU contracts UNI Europa Regional Secretary Oliver Roethig said at the hearing that 'Amazon must face consequences for such uncooperative behaviour towards our democratic institutions.' The union called for making public all the EU institutional contracts with Amazon and its subsidiaries, and 'to suspend them pending a review of their compatibility with EU procurement laws and ILO Conventions 87 and 98, and terminate those found in breach.' Lawmaker Liesbeth Sommen (Belgium/EPP), also called for the ban to continue. 'We should keep it, it's not OK that the management is not here, there is no respect for our house.' Laila Chaibi (France/GUE-NGL) said more action is needed and called 'to put an end to any contract with Amazon'. Tougher measures are also demanded by NGO's, Corporate Europe Observatory (CEO), LobbyControl and SOMO. 'Amazon's repeated disregard for democratic scrutiny should get alarm bells ringing. It is clear the company should not regain its lobby badges, but MEPs should also stop meeting with a company which clearly does not want to play by the rules,' said Bram Vranken, a CEO researcher. Euronews reported earlier this week that, despite the access badges being revoked, Amazon managed to secure at least 66 meetings with lawmakers to discuss technology legislation.
Fashion Network
7 hours ago
- Fashion Network
PZ Cussons not selling St Tropez brand, gives it new strategic direction, strikes US deal with Emerson
Personal care specialist PZ Cussons announced on Thursday that it won't be selling its St Tropez self-tan brand after all and that it will 'set a new strategic direction' for the business. The company had put the brand up for sale back in April as part of a broader plan to refocus its portfolio. It has since run an 'extensive auction process which resulted in a number of offers being received. This has been against a backdrop of a challenging performance for the business, with a revenue decline in FY25 in the US and a wider contraction of valuation multiples across the Beauty category'. During the time since it went up for sale, PZ Cussons has 'explored a number of alternative business models' for St Tropez that it said 'could create more value for shareholders. As such, and after careful evaluation of the offers received', the board has decided to hold on to it and set that new strategic direction. So what happens now? PZ Cussons will 'establish a focused team to lead the St Tropez brand across the group's international footprint. This team will be incentivised against the identified value drivers of the business: winning in-market execution including digital activation, re-igniting innovation and rejuvenating the brand's equity'. It added that a 'critical component of the plan includes the formation of a strategic partnership with The Emerson Group…. a leading, US-based partner to brand owners'. Emerson is to provide customer management, logistics services and brand activation in the US with St Tropez integrated into its dedicated selling teams to key US retailers. PZ Cussons said this deal builds on its existing relationship with Emerson as the distributor of Childs Farm in the US. The company said it's 'confident' this will return St Tropez to US growth and 'help address the challenge of our sub-scale operations' there. There's clearly a lot of work to do to get St Tropez back to full health and the company added that 'reflecting the recent performance of St Tropez, the group expects to record a non-cash impairment with its FY25 results announcement in September. St Tropez contributed £7.5 million of adjusted operating profit in FY25'. We'll hear further details about that and about its future plans for the brand in September. PZ Cussons CEO Jonathan Myers said of all this: 'Today we are setting a new direction for St Tropez with a renewed operating model built around a focused and incentivised team, a reset of our 'go to market' capabilities in the US and proven group operations in our other markets. With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.'
Fashion Network
7 hours ago
- Fashion Network
PZ Cussons not selling St Tropez brand, gives it new strategic direction, strikes US deal with Emerson
Personal care specialist PZ Cussons announced on Thursday that it won't be selling its St Tropez self-tan brand after all and that it will 'set a new strategic direction' for the business. The company had put the brand up for sale back in April as part of a broader plan to refocus its portfolio. It has since run an 'extensive auction process which resulted in a number of offers being received. This has been against a backdrop of a challenging performance for the business, with a revenue decline in FY25 in the US and a wider contraction of valuation multiples across the Beauty category'. During the time since it went up for sale, PZ Cussons has 'explored a number of alternative business models' for St Tropez that it said 'could create more value for shareholders. As such, and after careful evaluation of the offers received', the board has decided to hold on to it and set that new strategic direction. So what happens now? PZ Cussons will 'establish a focused team to lead the St Tropez brand across the group's international footprint. This team will be incentivised against the identified value drivers of the business: winning in-market execution including digital activation, re-igniting innovation and rejuvenating the brand's equity'. It added that a 'critical component of the plan includes the formation of a strategic partnership with The Emerson Group…. a leading, US-based partner to brand owners'. Emerson is to provide customer management, logistics services and brand activation in the US with St Tropez integrated into its dedicated selling teams to key US retailers. PZ Cussons said this deal builds on its existing relationship with Emerson as the distributor of Childs Farm in the US. The company said it's 'confident' this will return St Tropez to US growth and 'help address the challenge of our sub-scale operations' there. There's clearly a lot of work to do to get St Tropez back to full health and the company added that 'reflecting the recent performance of St Tropez, the group expects to record a non-cash impairment with its FY25 results announcement in September. St Tropez contributed £7.5 million of adjusted operating profit in FY25'. We'll hear further details about that and about its future plans for the brand in September. PZ Cussons CEO Jonathan Myers said of all this: 'Today we are setting a new direction for St Tropez with a renewed operating model built around a focused and incentivised team, a reset of our 'go to market' capabilities in the US and proven group operations in our other markets. With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.'
