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.