Steiner Leisure acquires Bliss World skin care brands
The company was established as a spa brand but has expanded into other distribution channels and is now stocked by leading department stores and pharmacies in both North America, Europe and other key markets.
Bahamas-based Steiner Leisure, which is a worldwide provider of spa services, announced it was buying all the outstanding and issued capital stock in the company back in November, and the deal was finalized yesterday.
Bliss and Remede secure $100m deal
Steiner paid Starwood Hotels and Resorts Worldwide, owner of Bliss World, $100m for the business, which it funded through existing capital and an extended credit facility.
The price tag not only reflects strong revenues for the two skin care brands, but also underlines their global reach into the expanding market for prestige skin care products.
Steiner CEO Leonard Fluxman says that the acquisition serves to extend the company’s presence in the premium skin care market, which will be complimented by the distribution channels from its hotel and spa locations.
Expanding the worldwide reach of the brands
Fluxman said he believes the acquisition will serve to ‘introduce more of the world’ to the Remede and Bliss brands and also said he was aiming to expand future business with Starwood and the brands it represents, which include W and St Regis hotel chains.
The Bliss World company was founded in SoHo New York in 1996 and developed from a four-room spa outlet into the global full range of spa-at-home body care products of today.
The brands are marketed at up-market international department stores such as Bloomingdale’s, Harrods, Harvey Nichols and Lane Crawford, and the Bliss brands are now also available at UK mass market beauty retailer Boots.
