Client:LDC

Reporting level:
Investment Committee

Task:
To undertake detailed commercial due diligence on Original Additions, an established beauty accessories products supplier specialising in false eyelashes, nails and waxing products. The business comprises the Eylure, Elegant Touch and Salon System brands, which are sold in both the retail and professional beauty markets in the UK and internationally.

What we did:

• Management interviews
• Desk research to assess the market and competitive context
• Online market surveys with women aged 16-55 to gain deeper insight into the false eyelashes and false nails markets and consumer behaviour
• Telephone trade survey with salon owners and managers to gain deeper insight into the product selection process and the Salon System brand
• Focus groups amongst regular and occasional users of false eyelashes and false nails (women aged 18-35)
• Store audits to assess space allocation, SKUs and compliance e.g. out of stocks of Original Additions brands and key competitors
• International review

Result:
LDC completed the secondary MBO of Original Additions in July 2011, backing the existing management team led by Simon Zussman.

“We couldn’t fault Pragma. They impressed us from the start with their professionalism. They provided us with excellent insight which we have put to great effect internally and with our customers. Their work has been extremely helpful to us.”

Simon Zussman, Managing Director, Original Additions