Kao to Acquire Oribe Hair Care from Luxury Brand Partners
Today, Kao USA Inc., a wholly owned subsidiary of Kao Corporation, a leading manufacturer and marketer of top beauty brands, announced it has signed an agreement to acquire Oribe Hair Care, LLC from its owners, including Luxury Brand Partners, LLC, an innovator in beauty known for its artist-driven brands and entrepreneurial culture.
Daniel Kaner, co-founder and currently co-president of Oribe Hair Care will be named president of the newly acquired entity. The terms of the deal have not been disclosed. The brand will join the Kao Salon Division portfolio of professional brands, including Goldwell, a full service line of stylist-exclusive, premium hair products designed for professional needs, and the KMS line of globally inspired hair care and styling products for creative stylists and their clients.
“Oribe is a stellar brand and a perfect fit for the Kao Salon Division portfolio,” said Cory Couts, Global President, Kao Salon Division. “And Daniel will be an exciting and inspiring addition to our management team. Daniel’s appointment not only guarantees the continuity of all that is extraordinary about Oribe but is also a progression of our company’s mission to appeal to the most artistic and business-minded salon professionals in the world.”
“Kao is the ideal place for Oribe Hair Care to take the next step in its transformative journey,” said Kaner. “I have a deep respect for their organization and talented leadership team. Our friendship and business relationship goes back years, most successfully with the strategic partnership in the United States between Oribe and Goldwell color. We have always believed that hair care should be an immersive and luxury experience, and Kao is incredibly supportive of the high standard that we set for ourselves.” “With its focus on luxury products, Oribe will meet the need for a prestige line in the Kao Salon product mix,” continued Couts. “And, the extensive global distribution network of Kao Salon Division will enable Oribe to expand internationally.”
“It is a bittersweet moment to say goodbye to a brand that Oribe Canales, Daniel Kaner and I founded and created almost ten years ago,” said Tevya Finger, CEO of Luxury Brand Partners. “I am extremely proud of what Oribe Hair Care has been able to accomplish since its inception, and I look forward to watching Kao Corporation develop the brand on a global scale.” The Oribe business will continue to be based in New York City under current management, reporting to Kao Salon Division.
The acquisition is subject to normal regulatory review and approval.