Estee Lauder to Close Prescriptives Retail Counters
Posted on September 23, 2009Reuters reports that Estee Lauder is closing its Prescriptives cosmetics and skin-care brand. Distribution of the products will end January 31, 2010.
U.S. cosmetic and fragrance seller Estee Lauder Cos Inc (EL.N) said it would close the global wholesale distribution of its 30-year-old Prescriptives skin-care products brand by Jan. 31, 2010, as the brand's value was no longer viable in the current market environment.Prescriptives released the following message that says the Calyx fragrance will continued to be sold after the January 31, 2010 date. The company says its Calyx fragrance will continue to be sold from prescriptives.com and at department stores even after the Prescriptives retail counters close. They also provided a toll free number for questions at 1-877-819-2968.
The owner of the Clinique, Bobbi Brown and M.A.C brands said it expects to take restructuring charges of $35 million to $40 million in connection with the action.
The company says, "You may have recently heard that Prescriptives has made the difficult decision to close its retail counters globally, effective January 31, 2010. You can continue to purchase your favorite Prescriptives products here at www.prescriptives.com for US shipping while inventory lasts."