Jo Malone and her husband have stepped down from her company which was sold to Estée Lauder in 1999. The Jo Malone brand is said to be estimate at $75 million in retail sales, with 26 percent sales increase last year.
Jo Malone's letter of resignation says:
"After much soul-searching, I believe that this is a good time to make this decision as the brand is in a secure position and I have many other dreams and passions I would like to fulfill - Every moment of building this special business - from the first day we opened our doors through today and all the wonderful moments in between - has been a magnificent journey - I want to thank everyone who has helped and encouraged us, and I remain particularly grateful to (Lauder chairman) Leonard and (senior corporate vice president) Evelyn Lauder for their mentorship and friendship."
The article makes it clear that Jo Malone had a good relationship with the Estée Lauder family.
Leonard Lauder explains that they were in talk about a possible departure over the last 3 years coinciding with the end of the buyout period by Lauder.
Jo Malone had a public battle with breast cancer, for which she was successfully treated. Friends say she has been in good health since 2 years.
PS: I starting from this week I won't be able to post full WWD article (or others) as it could cause Grant (Basenotes) legal problems about copyright. So the posting above is just a few important points I remembered.
Thanks Cedric. It's strange, I got the latest email newsletter from Jo Malone today mentioning various things, but no mention of her leaving. She has actually just got some streaming videos of various skincare techniques on her website.
Fine fragrance is alive; it breathes, unfolds and unravels with each passing hour....
Are you going to post this one on the female board, too?
Yep!Originally Posted by Lizzie