The Paris Commercial Court has made the final decision: Bouche Rouge is to be taken over by English perfume specialist Dilesh Mehta, co-owner of Jean Patou, and a team of beauty experts. Nicolas Gerlier, founder of the cosmetics start-up which filed for bankruptcy at the end of July, will remain part of the adventure.
On October 3, the Commercial Court preferred to entrust the keys to La Bouche Rouge to beauty experts rather than financial experts.
Some ten expressions of interest had been received. But when the disruptive, eco-responsible cosmetics start-up filed for bankruptcy at the height of summer, not everyone was able to finalize their offer in time.
Four bids were finally submitted to take over the company, founded in 2016 by Nicolas Gerlier, an ex-L’Oréal employee.
Co-owner of Jean Patou
Competing with investment funds, it was British manager Dilesh Mehta who convinced the court and bought the company in its entirety.
To build his case, he relied, on the one hand, on Jean Mortier, a former Coty executive, and on the other, on Rajeev Sharma-Fokeer and Edouard C. Fabre, two associate lawyers at FTPA.
“Having already taken over Jean Patou with Lvmh in 2018, and now with La Bouche Rouge, Dilesh Mehta continues to redirect his investments towards more lifestyle and premium Houses” explains Nicolas Gerlier to Luxus +. The latter will remain part of the adventure, as Creative Director. Florence Rollet, formerly of Dior and Tiffany, has been appointed General Manager.
In a Linkedin post, Vincent Jeanniard, an ex-Perfumes Dior and Burberry Beauté man who also advised the buyer in the run-up to the takeover, is delighted that this small team has won out over “a consortium of large private equity funds dangling millions of euros”. A final private equity bid “that had all the usual ingredients of glitz and glamour”, also criticizes Vincent Jeanniard.
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Featured Photo: © La Bouche Rouge
