February 2004 - Jane & Company, LLC acquires Jane Cosmetics from Estee Lauder
(The New York Times) - Harry Adjmi, owner and operator of a successful manufacturing company and investor in various other consumer goods companies and extensive real estate holdings, has formed a new company, Jane & Company, LLC, with Lisa Yarnell, a mass market health and beauty executive with over 25 years experience in consumer packaged goods, cosmetic and fragrance industries. Together, they have purchased the Jane cosmetics business from The Estee Lauder Companies Inc.
Adjmi notes, "Our approach will be the first true integration of our knowledge of a young, junior fashion customer applied to the mass marketing of a strong cosmetic brand. We know Jane. We understand Jane -- because we know this customer." Since 2002, Adjmi has increasingly been focused on investments in brands including Buster Brown, Pillowtex, XOXO and Nina McLemore, LLC.
Ms. Yarnell has experience with companies such as Colgate Palmolive, Benckiser Consumer Products, Inc. (Coty, Inc.) and Renaissance Cosmetics, Inc. She has been responsible for worldwide cosmetics and fragrance brands such as Fetish for teen girls and Tinkerbell for tweens.
Adjmi and Yarnell plan to build Jane into a major brand in the cosmetics category. "This is a major growth period for Jane's target age group, girls ages 15-29, and Jane cosmetics deliver the perfect combination of high quality products with great fashion sense at a value price," Yarnell adds. "Harry and I feel strongly that the time is now for Jane to grow and expand to its full potential. "We have been extremely impressed with the professionalism and integrity of The Estee Lauder Companies and their employees," Adjmi adds. "As Lisa and I ready to prepare our plans for Jane, we are surrounding ourselves with an impressive group of talented individuals -- to attract new consumers and heighten the Jane brand awareness worldwide."