New Joint Venture with Shiseido
NEW YORK, Aug. 17 /PRNewswire/ -- Lynn Emmolo, Executive Vice President
and General Manager of the joint venture between Intimate Beauty Corporation
and Shiseido Co., Ltd. announced today that Nance Dickinson will lead the
marketing effort for the joint venture. Intimate Beauty Corporation is a
business of Intimate Brands, Inc. (NYSE: IBI).
Reporting directly to Lynn Emmolo, Ms. Dickinson will lead the development
of all marketing objectives, strategies and plans, and then will lead the
joint venture's marketing organization in the implementation of these plans.
"We're delighted to have Nance join our team," said Lynn Emmolo. "She has
extraordinary experience in branding and strategic marketing. Nance also has
an excellent background in education, and that experience will be a tremendous
asset in identifying innovative ways for reaching our customers and building
long-term relationships with them."
Ms. Dickinson joins Intimate Beauty Corporation from Estee Lauder, where
she was Senior Vice President, Marketing for Clinique. She began with
Clinique in 1992 and assumed increasingly responsible positions in marketing,
for both the treatment and makeup categories. From 1998 to 1999 she served as
Vice President, Marketing for M*A*C. Prior to joining Estee Lauder, Ms.
Dickinson was with Revlon as Director, Marketing.
Robin Burns, President and Chief Executive Officer of Intimate Beauty
Corporation and Victoria's Secret Beauty said, "We're thrilled to welcome
Nance to the joint venture management team. She has a tremendous breadth of
experience in the beauty industry and a proven track record of success." Ms.
Burns went on to say, "We're thrilled with the progress of the joint venture
to date. We are on target to open prototype stores in spring 2002. The
product development, brand positioning and store design are all on schedule."
As reported earlier, Intimate Brands, Inc., which operates Intimate Beauty
Corporation, Victoria's Secret and Bath & Body Works, and Shiseido Co., Ltd. a
leading Japanese cosmetics manufacturer, have formed a joint venture to
develop, market and sell a new brand of beauty products. This strategic
alliance will leverage Shiseido's global expertise in product and package
research and development, as well as Intimate Beauty Corporation's expertise
in retailing and brand development. It supports Shiseido's objective of
increasing their penetration in the U.S. market and will also deliver a
prestige beauty brand with a unique position for Intimate Beauty Corporation.
The joint venture agreement was signed in September 2000.
"I'm pleased with the progress of the Intimate Beauty Corporation and
Shiseido joint venture team. Strong talent like this is critical to building
a great global beauty brand," said Leslie Wexner, Chairman and Chief Executive
Officer of Intimate Brands, Inc.
Ms. Dickinson currently resides in New York City with her husband,
Attorney Jeffrey Lichtman.
About Intimate Brands, Inc.:
Intimate Brands, Inc. is the leading specialty retailer of intimate
apparel, beauty and personal care products through Victoria's Secret, Bath &
Body Works and Intimate Beauty Corporation. As of July 7, 2001, Victoria's
Secret products are available through 887 lingerie and 471 beauty stores (of
which 89 are stand-alone), the Victoria's Secret Catalogue and online at
VictoriasSecret.com. The Company offers a broad selection of personal care,
home fragrance and decor products through 1,481 Bath & Body Works and
129 White Barn Candle Company stores (of which 31 are stand-alone).
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: All forward-looking statements made by the Company in this release
involve risks and uncertainties and are subject to change based on various
important factors, many of which may be beyond the Company's control.
Accordingly, the Company's future performance and financial results may differ
materially from those expressed or implied in any such forward-looking
statements. Words such as "estimate," "project," "plan," "believe," "expect,"
"anticipate," "intend" and similar expressions may identify forward-looking
statements. The following factors, among others, in some cases have affected
and in the future could affect the Company's financial performance and actual
results and could cause actual results for 2001 and beyond to differ
materially from those expressed or implied in any forward-looking statements
included in this release or otherwise made by management: changes in consumer
spending patterns, consumer preferences and overall economic conditions; the
impact of competition and pricing; changes in weather patterns; political
stability; postal rate increases and charges; paper and printing costs; risks
associated with the seasonality of the retail industry; risks related to
consumer acceptance of the Company's products and the ability to develop new
merchandise; the ability to retain, hire and train key personnel; risks
associated with the possible inability of the Company's manufacturers to
deliver products in a timely manner; risks associated with relying on foreign
sources of production and availability of suitable store locations on
appropriate terms and other factors that may be described in the Company's
filings with the Securities and Exchange Commission. The forward-looking
information provided in this release is based on information available to the
Company as of the date of this press release. The Company does not undertake
to publicly update or revise its forward-looking statements even if experience
or future changes make it clear that any projected results expressed or
implied therein will not be realized.
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SOURCE Intimate Brands, Inc.
/CONTACT: Debbie Mitchell of Intimate Brands, Inc., +1-614-415-7555; or
Trisha White of Intimate Beauty Corporation - Victoria's Secret Beauty,
/Web site: http://www.intimatebrands.com/
CO: Intimate Brands, Inc.; Intimate Beauty Corporation; Shiseido Co., Ltd.
ST: Ohio, New York
IN: REA HOU
-0- Aug/17/2001 13:00 GMT
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