Earlier last month, Frédéric Fekkai closed the doors of its flagship hair salon on Manhattan’s Fifth Avenue. Was it merely a casualty of Henri Bendel’s announced closing or the sign of another high-profile corporate buy-back? According to recent reports, the celebrity stylist and businessman has partnered with Cornell Capital to reacquire Fekkai Brands, which was sold in 2015 to Designer Parfums and Luxe Brands. The new holding company, Blue Mistral, will take back control of Fekkai retail products, including The One by by Frédéric Fekkai, and six North American salons.
“The opportunity to partner with Frédéric, a proven entrepreneur in the beauty sector, as he returns to the helm of his iconic brand is truly compelling,” said Henry Cornell, Senior Partner of Cornell Capital. “Leveraging Cornell Capital’s cross-border network and operational expertise, and Frédéric’s deep relationships and reputation within the industry, Fekkai Brands is well-positioned to succeed in the growing global cosmetics and personal care industry.”
In an exclusive interview with WWD, Fekkai laughed when the speed of the deal this time around was remarked upon. “It sounds fast, but for me it was painful,” he said. “It’s like when you’re buying a car, but you have to wait six months for it to be delivered. You want to drive that car right away. The brand needs a leader,” he continued, “someone who knows what they’re doing, who the team can respect. I will be there, working in all of the departments — in the salon, marketing, product development.”