P&G Announces Beauty Divestment

Procter & Gamble expanded its reach into luxury hair care in 2008 when it purchased the Frédéric Fekkai brand. Now, according to a brief in WWD, the world’s largest consumer products company has made a move in its much-anticipated divestitures of a slew of its beauty names. P&G has reportedly sold the Frédéric Fekkai business to Fekkai Brands, a joint venture of Designer Parfums and Luxe Brands, which are subsidiaries of Shaneel Enterprises. Earlier this month, Fekkai had said that his talks with P&G were at a standstill.