Insight by Andrea
Korres, an Athens based, natural skin care line, distributed in 400 Sephora and Whole Food doors plus 2 stand-alone stores signed a licensing deal with J&J. Korres global sales are $85 million with 80% generated in Greece. Co-Founder George Korres believes J&J can take Korres to the next level. The deal gives full control to J&J in the US. According to the article published by WWD, J&J is tapping in prestige and Korres will not go mass. The deal also gives J&J rights to Kings and Queens, a lesser known brand owned by Korres. We have been seeing a strong trend of prestige brands experimenting with mass. On the other hand, CPG companies want to play on prestige grounds. The deal seems like a smart way for J&J to learn about the segment then decide what to do next. The risk lies with Korres by giving up full control. If it works, there will be lots of loyalties, if it doesn’t Korres may not mean much if 5 years. Let’s not forget how P&G just discontinued Max Factor. Having said that, we hope it is very successful for both parties as Korres offers fantastic products and amazing packaging.
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Korres partners with J&J in the US
Korres partners with J&J in the US