Conair Corporation – a company that owns the BaByliss (hairstyle and grooming) and Cuisinart (high-end kitchen appliances) brands – was acquired by American Securities LLC, a leading US private equity firm. For the company – which is headquartered in Stamford (Connecticut) and has a turnover of over 2 billion dollars – – the operation represents an important step towards further growth worldwide.
Founded in 1959 by Leandro Rizzuto, today Conair sells its products in more than 120 countries on six continents. The acquisition provides that some members of the Rizzuto family will retain a minority stake in Conair.
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«This important operation marks a new strategic phase for Conair – commented David De Vanna, general manager of Conair Italy -. It will give the company a determinant impulse to growth, allowing to accelerate the process of development, expansion and distribution of innovative and high quality products in the various segments of our reference ».
In Italy, Conair, with its Babyliss, BaBylissPRO and Cuisinart brands, closed the first 4 months of 2021 with net sales up 79% compared to the same period of 2020. The growth of the first 4 months of 2021 consolidates the positive data of the past fiscal year, which saw the Italian commercial branch, grow by 17% in net sales and bring a positive profit in marked increase.
Conair Italy produces high-end made in Italy hair dryers in the owned factory in Bergamo. For this year, a production of about 1.5 million pieces is expected, which will then be exported all over the world. “The made in Italy production of part of the catalog has given us the necessary production flexibility to overcome shortage problems. , which those who have production plants located purely in the Far East have had to face »adds De Vanna. Equally important was the boost generated by the renewal of the websites and thee-commerce by BaByliss and Cuisinart, combined with substantial investments in digital communication.