Kardashian-Endorsed Ouai Likely Merger Fodder; Uber's C-Suite Takes Form - ICYMI

The influence of the Kardashian clan in undeniable, though maddening to much of the world's population. Well, for investors, the Kardashian effect is a hell of a selling point, sources tell The Deal's Alexandra Garfinkle. Witness, Kim Kardashian-endorsed haircare line Ouai Haircare, which is among the next likely targets in the beauty space, Garfinkle says. But it's about more than celebrity. Also among the wave of potential beauty targets is eco-conscious sunscreen innovator Coola Suncare. Those two, plus fellow middle market company Paris Presents, are attractive to private equity, though some strategics have dipped into lower revenue auctions to gain access to new and younger audiences. The action piggybacks off an eventful July in the beauty space. Procter & Gamble (PG) acquired prestige cosmetics brand First Aid Beauty in mid-July and consumer-focused PE firm Alliance Consumer Growth closed its oversubscribed fourth fund at $350 million on July 18. Topspin Partners-backed JD Beauty Group acquired Ouidad Holdings on Aug. 13, while beauty conglomerate L'Oreal inked two deals on Aug. 1, the separate acquisitions of German natural beauty brand Logocos Naturkosmetik and French skincare phenomenon Société des Thermes de La Roche-Posay.

We talked about the dearth of public companies a few weeks ago, but at least one company is giving investors hope that a new, exciting listing is coming. Uber Technologies seemingly took a step closer to an IPO on Tuesday with the appointment of Nelson Chai as Chief Financial Officer. CEO Dara Khosrowshahi did not look to Silicon Valley to fill the role that had been vacant for three years, but to the sleepy world of insurance and warranty. Chai was most recently CEO of TPG Capital-backed The Warranty Group before the Chicago company's $2.5 billion sale to Assurant (AIZ) , which closed in May, notes The Deal's Chris Nolter. The ride-sharing outfit is "trying to look respectable for Wall Street for the IPO," 451 Research analyst Christian Renaud suggested. Chai continues Uber's C-Suite makeover. Before running Warranty Group, he was a president at CIT Group (CIT) ; chief financial officer at Merrill Lynch; CFO of NYSE Euronext, after the company merged with electronic stock exchange Archipelago Holdings. He sits on the board of Thermo Fisher (TMO) . While Chai fills an important spot at Uber, Khosrowshahi may still have more hiring to do before he takes the company public. Marketing group Endeavor poached chief brand officer Bozoma Saint John from Uber in June after the high-profile Saint John had arrived from Apple (AAPL) , so Khosrowshahi may want to add a chief marketing officer to continue rebuilding the brand before hitting the market.

Markets Today: The Dow Jones Industrial Average, S&P 500 and Nasdaq all finished higher, but backed off their highs of the day in late trading on Tuesday. The dollar extended its fall after President Trump criticized the Federal Reserve for raising interest rates. Kohl's (KSS) reported second-quarter adjusted earnings of $1.76 a share, higher than estimates of $1.64, while revenue was $4.57 billion, above forecasts of $4.27 billion. Same-store sales rose 3.1%.

Michael D. Brown, Assignments Editor, TheStreet Inc.

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