German hair care and cosmetics maker Henkel is also in on the first round of bidding, as Reuters reports this week. That publication’s sources for the news about the prospective sale opted to remain anonymous and no one from the firm’s involved were available for comment.
Brand recognition
The Carlyle Group currently owns a 49% share in Vogue International, while company founder Todd Christopher holds the majority 51%. The company sells its popular brands in drug, food, and mass channels. And, its portfolio includes, OGX, Maui Moisture, Proganix, and FX.
OGX was previously branded Orgainx, but changed names after legal issues arose when consumers claimed they were lead to believe that the hair care products were mostly or entirely organic. The company compensated consumers through a $6.5m fund.
And, according to the Reuters item, “The name change did not stifle OGX's growth, which has been propelled by its colorful packaging which stands out in drugstore aisles. Vogue has focused on increasing its presence in drug stores, shifting marketing dollars from consumer advertising to buying shelf space.”
Market value
The pending sale is big news in Clearwater, Florida (where Vogue International is headquartered) and the surrounding Tampa Bay region. It is “one of the largest privately held companies” in the area, as Margie Manning, finance editor for the Tampa Bay Business Journal reports.
According to data she shares from Moody’s the company’s revenue for the year ending March 31st amounted to $319m. And Vogue International holds nearly 3% market share in the mass hair care category.