Cussons bank on Brits fake tan addiction
PZ Cussons, most famous for its Imperial Leather soap brand, is to expand into the fake tan market with the purchase of St Tropez for £62.5m.
The tanning mousse retails for £20 per 120ml can and has enjoyed strong sales since Victoria Beckham was snapped with a tub. The brand has since diversified with a range of associated lotions and tanning booths.
St Tropex is said to have cornered 43pc of the British self tan market, worth £100m per year, and has made recent inroads into both the American and US markets.
PZ Cussons hope they can tap into the network of British stores stocking the St Tropez brand to introduce their Sanctuary range of cosmetics to Boots, Superdrug, Debenhams, Sainsburys and John Lewis.
Alex Kanellis, chief executive of PZ Cussons, told The Times “The acquisition of the St Tropex brand represents an excellent strategic opportunity for PZ Cussons and further strengthens our portfolio of ‘masstige’ brands.”