Bargain hunters can save up to 50 per cent on Napoleon Perdis makeup after the empire collapsed into liquidation.
The cult cosmetics giant shut 56 stores across Australia for stocktake on Thursday – including 23 outlets in upmarket department store chain Myer.
But the stores will reopen on Friday morning with big savings – as liquidators from Worrells Solvency and Forensic Accountants attempt to claw back huge losses.
A Napoleon Perdis spokesman confirmed the firesale to Daily Mail Australia, but said details had yet to be finalised due to the swift collapse of the popular brand.
The spokesman urged shoppers to check the official website and social media channels for further details.
As makeup empire Napoleon Perdis goes into liquidation, beauty aficionados are set to rush into stores for the highly-anticipated flash sale
As makeup empire Napoleon Perdis goes into liquidation, beauty aficionados are set to rush into stores for the highly-anticipated flash sale (Left: Auto Pilot BBB Cream SPF30 $29.50 and right: Camera Finish Look 5 $29.50)
The brand has already offered 50 per cent off selected items on the website.
These include $19 lipsticks, $30 colour palettes, $14.50 mascara and brushes starting from $9.
Beauty buffs are already writing their shopping lists ahead of the big sale, with many sharing the ‘must-have’ products to look out for.
Many fans suggested buying the ‘China Doll Foundation’, normally retailed at $69, Auto Pilot Primer (RRP$45), Stroke of Genius Liquid Cashmere Foundation (RRP$69) and the Matte Eye Ink (RRP$32).
After 24 years of trading, the directors of Napoleon Perdis Group appointed liquidators from Worrells Solvency and Forensic Accountants on Thursday.
Napoleon Perdis – who famously said ‘not to prime is a crime’ – said his brand ‘is still in high demand’, despite the empire he built from scratch collapsing on Thursday.
Napoleon Perdis (centre), Real Housewives star Nicole Gazal O’Neil (right) and daughter Lianna pose for a picture as they arrive for the InStyle and Audi Women of Style Awards in 2017
The cult cosmetics giant shut 56 stores across Australia for stocktake on Thursday, including 23 outlets in Myer (Left: Pro Palette Correct & Conceal + $30 and right: China Doll Eyeliner Happiness $19.50)
‘The brand is more innovative than ever, so by restructuring the business in this manner, we believe, puts it in a prime position to continue to evolve through continued trade or in a sale,’ he said in a statement.
‘My family and I are 100 per cent committed to achieving the best outcome for all stakeholders.
‘We are fortunate that throughout our business, we have staff and teams who have not only underpinned the business success, but who are our extended family.
‘As we work towards our goals, we ask customers, suppliers and other interested parties to continue with their valued support of the brand.’
Napoleon Perdis (pictured in 2011) said in a statement his brand ‘is still in high demand’, despite the empire he built from scratch collapsing on Thursday
There’s currently a 50 per cent off sale on selected items on the website, including $19 lipsticks, $30 colour palettes, $14.50 mascara and brushes starting from $9 (Left: Auto Pilot Pore Minimiser & Mattifier $24.15 and right: Lipstick Goddess Lynx $19)
The first store was opened in 1995, before expanding overseas, predominantly in the US for more than a decade.
‘The Napoleon Perdis directors have been trying to sell the business for several months,’ Worrells Solvency said in a statement.
‘The current plan for the administration process is to see whether the business can be restructured through the process or a buyer is found while the business continues to trade.’
The Napoleon Perdis Group has an exclusive agreement with Priceline, which has vowed to support the business during the administration process.
Napoleon Perdis launched in more than 200 Priceline stores from August 2018.
Everything must go! Napoleon Perdis is set to launch a mega sale on items (Total Bae – Perfect It! on sale now for half price $24.50)
Popular beauty products are set to go on sale, including Auto Pilot Pre-Foundation Primer $59 and Stroke of Genius Liquid Cashmere Foundation $69
Andrew Spring, an insolvency specialist at Jirsch Sutherland, said the agreement with discount health and beauty retailer Priceline may have been the wrong strategy move for the high-end brand.
‘Ten years ago you probably didn’t associate Napoleon with Priceline,’ Mr Spring told Daily Mail Australia.
‘Having said that, Priceline is a pretty strong brand in its own right. But these types of strategies can ultimately impact on how brands are perceived.
‘If you’re running a premium brand, charging a premium price, then you move it into the mainstream – that sort of cheapens it a little bit.
‘It’s like that saying, “you don’t want to join a club that wants you as a member”.’ But who knows, I think there are probably a number of factors that led to this outcome.’
Worrells will continue to trade all stores as usual and undertake daily assessments of the stores throughout the administration process.
‘The Napoleon Perdis brand is an iconic brand of Australia with substantial value and relevance within the cosmetic industry both for Australian and international markets,’ administrator Simon Cathro said.
‘Our understanding of the brand and its businesses has only strengthened our assessment of its potential business performance and profitability.’