Charles of The Ritz - History - Ownership Changes

Ownership Changes

In 1972, Richard B. Salomon retired, and the company was acquired by pharmaceutical company E.R. Squibb, with a market value of $100 million.

In 1977, Yves Saint Laurent Beaute launched Opium. In 1978, Ritz introduced a new women's fragrance, Enjoli, designed (as noted in its popular television commercials) as "the eight hour perfume for the 24-hour woman"; the commercial's theme song was a remake of Peggy Lee's 1963 hit song "I'm A Woman". In 1984 Charles of the Ritz launched Forever Krystle and Carrington, successful fragrances based on American television drama Dynasty characters.

In 1986, Squibb sold the entire division back to Yves Saint Laurent for $500 million, who invested heavily in a new men's fragrance called Jazz. Jazz was not particularly successful and, coupled with the October 1987 market crash, Yves Saint Laurent sold Charles of the Ritz Incorporated (excluding Yves Saint Laurent Beaute) to Revlon in 1987. Still reeling from its unsuccessful takeover attempt of Gilette in 1983, Revlon declared they were interested in several acquisitions and also bought Max Factor, Almay, Halston, Borghese, and Germaine Monteil.

Under Revlon, the brand Charles of the Ritz began to slip in image and prestige. In 1991 they launched a line called Express, aimed at a more savvy customer. The brand became associated with lower-end stores like J. C. Penney and maintained a focus on the "mature" customer. After several years of unsuccessful revival attempts (including an endorsement deal with Kathie Lee Gifford for their Timeless line) and facing massive debt, Revlon put (among many others) the line for sale, but had no takers. Analysts suggested the very name — Charles of the Ritz — lacked consumer recognition.

Read more about this topic:  Charles Of The Ritz, History

Other articles related to "ownership, ownership changes":

Ohmbach - Religion
... At some unknown time, this parish passed into the ownership of the Archbishopric of Mainz ... certain that Archbishop Willigis transferred the Church of Ohmbach into the ownership of Disibodenberg Abbey in 976 ... as it would seem to say in Emperor Otto II’s 977 document acknowledging such ownership ...
Lincoln Snacks Company - History - Ownership Changes
... The board of directors of Noel Group approved a "plan of complete liquidation and dissolution" in 1997 ... In June 1998, however, Brynwood Partners purchased a controlling interest in Lincoln Foods ...
WRVA (AM) - History - FM, Television, Ownership Changes
... In 1968, the television station was sold to Jefferson Pilot Broadcasting, owner of WBT, WBT-FM, and WBTV in Charlotte, North Carolina, and the call signs were changed to WWBT (Raycom Media has since purchased the television station) ... The radio stations went through several owners after Larus and Brother, including Harte-Hanks, Edens Broadcasting and Force II Communications, LP, before they were purchased by Clear Channel in 1992. ...
Critical Views of Ownership - Vedantic View
... The Brahmanist theology called Vedanta believes that ownership arises due to the sense of being separated from the rest of the universe ... under the illusion that one is separate from the rest of the universe, ownership is one of the ways one may attempt to reconnect with objects ... Vedanta believes that ownership is an illusion which persists as long as the belief in separation from the Universe persists ...

Famous quotes containing the word ownership:

    They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.
    —Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)