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CCTFA acquires Cosmetics Magazine and the COSA & Fragrance Awards from Rogers Media

November 08, 2016

We are pleased to hear that the CCTFA has now acquired Cosmetics Magazine as well as the COSA & Fragrance Awards! You can read more about this in a statement provided by the CCTFA below. Congratulations to the CCTFA and we wish all the best to them!
 

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CCTFA acquires Cosmetics Magazine and the COSA & Fragrance Awards from Rogers Media

 

Background

Earlier this year Rogers Media informed CCTFA that they were divesting a number of trade publications that no longer aligned with their company’s core focus. Included in the divestiture is Cosmetics Magazine and its associated event-based properties – the Cosmetics Outstanding Service Awards (COSAs) and The Canadian Fragrance Awards.  Given the nature of these properties, Rogers contacted CCTFA specifically with the opportunity to purchase these industry assets.

 

Opportunity Explored

The CCTFA Executive Committee established a task force to explore the potential of purchasing the magazine and events. The committee undertook a detailed assessment of the properties including their respective operational costs, revenues, audiences and email lists, and importantly, opportunities to advance the Association’s (and Foundation’s) mandate.

Although the operation of awards events and digital magazines is not part of CCTFA’s core mandate, the properties provide CCTFA with an effective vehicle to reach beauty advisors, counter staff, and consumers.  In particular, the digital magazine/website will be very useful in educating beauty specialists and consumers by providing important information on ingredient/product safety, environmental issues, the Foundation, as well as other matters that are key to retaining and building consumer confidence – which is very much in line with CCTFA’s mandate.

 

Agreement

An agreement, as approved by the CCTFA Board of Directors, was ultimately struck to purchase the assets including Cosmetics digital magazine/website, and the COSAs and The Canadian Fragrance Awards. The CCTFA will acquire control of the trade names and right to use them, intellectual property, and other related assets as of December 15, 2016.  

 

Next Steps

CCTFA will retain the services of Jim Hicks, former publisher of Cosmetics Magazine, to assist in the development of a business plan including the continuation of the Award events and operation of the digital magazine/website; and all as a subsidiary business such that it will not detract from the core mandate and priorities of the CCTFA and its staff.


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