The share is valued at more than $1 billion.
The measure would have allowed certain stores to remain open later.
The company plans to maintain separate brand identities for Limoni and La Gardenia, while creating a unified business strategy.
Creativity and entrepreneurship are alive and well in beauty, as evidenced by the influx of new brands this year.
Procter & Gamble Co. is introducing the brand’s first premium line, the Naked Collection, in January.
After 35 years with Lauder, Orna Nofarber has decided to retire, effective Dec. 1, and she has been succeeded by Edoardo Bernardi.
The brand has increased the exposure for a special award program saluting 10 women across the country.