Napoleon Perdis’ stores and staff jobs saved in new deal with KUBA Investments, run by Livia Wang

Napoleon Perdis’ stores and staff have been saved in new deal that will ensure the celebrity make-up artist’s brand will continue to trade in Australia.

Napoleon Perdis’ stores and staff have been saved in new deal that will ensure the celebrity make-up artist’s brand will continue to trade in Australia.

In a meeting with creditors of Napoleon Perdis Cosmetics today, a Deed of Company Arrangement (DOCA) from KUBA Investments Pty Ltd (KUBA), was accepted.

KUBA is run by Australia’s well known ‘Daigou Queen’, Livia Wang, and former Witchery and Marcs executive Henry Lee.

Ms Wang’s company will now take over the management and operation of the company, meaning the 28 remaining Napoleon Perdis stores will remain open for business.

The company’s 250 staff will be retained and consumers will be able buy Napoleon Perdis products from more than 700 outlets.

In a statement today, Ms Wang described it as “tremendous news”.

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Livia Wang is a Chinese business woman specialising in advising people on doing business in China. Picture Chris Pavlich

“We are happy that this brand will remain in Australian hands and we will continue to build iconic brand and turning it into a global player,” she said.

Under the new arrangement, all shares held by Napoleon Perdis, his wife Soula-Marie Perdis and his younger brother Emanuel Perdis will be transferred to KUBA.

Napoleon Perdis will also continue on at the company as Chief Creative Officer and his wife Soula-Marie will continue to be the company’s Product Development Consultant.

“I am delighted that Henry Lee, who has extensive retail experience will become the Chief Executive Officer of Napoleon Perdis Cosmetics,” Ms Wang said.

Athina Perdis, Lianna Perdis, Napoleon Perdis, Soula-Marie Perdis, Angelene Perdis and Alexia Perdis. Picture: Mark Cranitch.

“Henry and I have studied this business over the last three months, and we are excited to be working with Napoleon and Soula-Marie to leverage off their knowledge and creativity and to drive the business forward.”

In a “personal note” that was read out at the creditors meeting today, Perdis said he remained “personally committed” to rebuilding the brand with its new partner KUBA Retail.

“The Deed Proposal will result in the best outcome for creditors and all of the parties in the business,” he said.

“It will keep people in jobs, keep open the existing spread of stores, allow our consultancy partner in Athens to continue to conduct product research and development and market campaigns for each of the four seasons each year, it will deliver channel partners and consumers continuity of supply of established products and staples of our portfolio, as well as new products.”

Napoleon Perdis will continue to trade in Australia. Picture: napoleonperdis.com/aus

Perdis also went to say his younger brother Emanuel will pursue a new interest while he and his wife Soula-Marie continue to work with the brand.

“We deeply regret that money has been lost by companies and individuals that have supported us,” he said.

“We anticipate however that a partnership with us in the future is a better outcome than cessation of trading activities, or liquidation.”

“Our story is an Australian story that man Australians will relate to. Our story began with humble beginnings when our migrant parents operated milk bars and hamburger shops in western Sydney.”

Perdis also confirmed that his products would continue to be available at Priceline, Terry White Chemmart, Adore Beauty, partner beauty and hair salons as well as Napoleon Perdis stores and online.

The brand had appointed independent administrators Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants to sort out the company’s financial issues.

After the company went into administration, 28 stores across NSW, Victoria, Queensland, the ACT, South Australia and Western Australia were shut down.

Originally published as Napoleon Perdis’ stores and staff jobs saved in new deal with KUBA Investments, run by Livia Wang