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Article: How La Prairie got corralled. (Georgette Mosbacher's purchase of La Prairie from Faberge)
- Article from:
- WWD
- Article date:
- January 8, 1988
- Author:
CopyrightCOPYRIGHT 1988 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOW LA PRAIRIE GOT CORRALLED
Georgette Mosbacher, the new owner of La Prairie, said she has been trying to buy the skin care line for more than a year to satisfy her "passion" for the cosmetics business.
Earlier this month, she announced that she finally signed a definitive agreement to buy the brand from Sanofi, as reported (page 14, Jan. 5.) Sources said the purchase price was approximately $30 million. La Prairie has a $20 million worldwide wholesale volume.
"My passion for this business was sparked by my exposure at Faberge," said Mosbacher, who had been vice president of Brut Productions, a film production division of Faberge, and ...