In Brief: IGI
This article was originally published in The Rose Sheet
Executive Summary
IGI: Secondary stock offering of 110,000 common shares expected to net up to $570,625 for the selling shareholders, according to a May 15 preliminary prospectus. IGI President John Gallo and Allergan, Inc. will sell 85,000 ($440,938) and 25,000 shares ($129,688), respectively. Gallo will still own 578,397 shares after divesting his stock and Allergan will no longer hold a stake in IGI. Allergan received its 25,000 shares valued at $175,000 Jan. 9 under a "mutual release of claims" settlement between the two companies regarding breach of duty...
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says