Jabot Cosmetics

Infobox_Company
company_name = Jabot Cosmetics
company_type = Publicly held company
foundation = Genoa City, Wisconsin (1960's by John Abbott)
location_city = Genoa City, Wisconsin
location_country = United States
key_people = Katherine Chancellor, Chairwoman of the Board of Directors
Cane Ashby, Chief Executive Officer
industry = Cosmetics
products = Perfumes, Hair Care, Makeup
parent = Chancellor Industries (Majority)

Jabot Cosmetics is a fictional cosmetics business on the CBS daytime soap opera "The Young and the Restless".

Jabot Cosmetics was founded by John Abbott (Jerry Douglas) sometime in the 1960s. Jabot is famous for selling expensive, high class cosmetics as well as for its severe financial downturns.

Currently it is a division of Chancellor Industries and its main headquarters are located in Genoa City, Wisconsin and its CEO is Cane Ashby. It was the only major company in Genoa City not directly affected by the Clear Springs accident.

History of Jabot Cosmetics

Jabot has had a tumultuous history. In the early 1980s John considered following his son Jack's advice to sell Jabot but then changed his mind once he found out that the company offering to buy Jabot (Mergeron Enterprises) was owned by his ex-wife Dina Abbott Mergeron (Marla Adams). A few years later Jabot had another shake up when after finding out his son Jack Abbott (then Terry Lester, now Peter Bergman) was having an affair with his younger wife Jill Foster Abbott (then Brenda Dickson, now Jess Walton) he disowned Jack and fired him from Jabot. John filed for divorce and because he didn't want the facts about Jack and Jill's affair made public he gave Jill a divorce settlement that included 1/4 ownership of Jabot, an executive position worth $150,000 a year, and a seat on the Jabot Board of Directors. John replaced Jack with his new son-in-law Brad Carlton (Don Diamont), who was a salesman to that point. Jill and Brad started the "Jabot Men's Line" and made it into a success. But after a while the job became too much for Brad to handle and so John hired Jack back.

In 1990 Jack convinced John to go public with Jabot, by selling shares of Jabot stock in the stock market. This backfired on Jack when his rival, Newman Enterprises, C.E.O. Victor Newman (Eric Braeden), bought enough shares to takeover control of Jabot. Losing Jabot caused John to have a heart attack and caused Victor to fire Jack and replace him with Brad. To get back at Victor, Jack married Victor's ex-wife Nikki Newman (Melody Thomas Scott), before Victor could propose re-marriage to Nikki. Victor offered to give control of Jabot back to the Abbott family, if Jack divorced Nikki. Even though Jack had fallen in love with Nikki, he accepted Victor's offer out of guilt and loyalty to John. But Victor used a loophole in the contract and voided the deal. Jack did however return to work at Jabot. After Nikki found out Jack chose Jabot over her she started divorce proceedings. But after Jack saved her daughter Victoria's life and then finding out she was pregnant with Jack's child, Nikki decided to stay with Jack. Victor later married Jack's sister and Jabot's chemist Ashley Abbott (then Brenda Epperson, now Eileen Davidson).

A couple of years later Jack with Brad planned a hostile takeover of Newman Enterprises. But Victor found out about it and during a heated exchange Victor fired Jack and then collapsed. Jack walked over Victor and towards the door leaving him to die. But Jack used his better judgement and called 911, saving Victor's life.

After having confrontations with Ashley, Nikki, and his daughter Victoria, Victor went on a trip to the country to get away from his problems. Victor was robbed and carjacked and the man who did it ended up dying in a car accident in Victor's car. Everyone back in Genoa City thought Victor was dead and so Jack used "Victor's death" to his advantage and took over control of Newman Enterprises. This also meant he controlled Jabot as well. Jack appointed Brad head of Newman Enterprises. Months later Victor returned to Genoa City alive and well. Victor once again fired Jack for taking over control of Newman Enterprises and as a result John and Ashley resigned from Jabot. The Abbotts decided to create a new cosmetics company to rival Jabot. But because of Victor their loan application was denied and so their plans were halted. Jack then promised to stay away from Jabot if Victor hired John and Ashley back. Eventually Jack returned to Jabot as well.

Many years later Victor was missing and once again thought to be dead after his airplane crashed in New Mexico. Jack and Brad once again took over control of Newman Enterprises by changing spreadsheet numbers and packing the Newman Board of Directors with Jack's old flame and Victor's newest ex-wife Diane Jenkins (Alex Donnelley) and with her lawyer Michael Baldwin (Christian LeBlanc). When Victor returned it was tougher for him to wrest control of his company away from Jack and Brad.

The 1999 vote for C.E.O.(s) of Newman Enterprises:

* Jack Abbott - Himself and Brad Carlton
* Brad Carlton - Himself and Jack Abbott
* Jill Abbott - Victor Newman
* Neil Winters - Victor Newman
* Victoria Newman - Victor Newman
* Michael Baldwin - Jack Abbott and Brad Carlton
* Diane Jenkins - Jack Abbott & Brad Carlton
* Victor Newman - Himself
* Ashley Abbott - abstained

Jack told Victor that he would give him back Newman Enterprises if Victor gave control of Jabot back to the Abbotts. Victor seeing what Jack really wanted counter offered that the Brash & Sassy division must stay with Newman Enterprises and that Jack must buy Jabot from him. The Abbotts gathered enough money but they fell short during Victor's deadline. Victor bought up all the Abbott's bank loans and as Victor was about take back control of Jabot, Ashley convinced him to extend the deadline. To keep them afloat and get them through a required payment owed to Newman Enterprises, Brad Carlton and Nikki Newman were approached. They they were asked for $35,000,000 each in exchange for shares of the company, as well as a seat for each of them on the board of directors.

Glow By Jabot

In 1999, with the return of young Billy Abbott to the household, Jabot's management was inspired to use him and his friends as a way to access a younger demographic. They chose to use the internet and create a closed circuit 24hr website where people could log on and see what the kids were doing. It took place exclusively at the Abbott pool house. Phyllis Newman (Summers at the time) was hired to be the web designer. It lead to such success that a joint partnership was formed between Jabot Cosmetics and Fenmore Department Stores to run a small Boutique which still runs to this day. It went on for two years before fading out.

Tuvia

When Jabot was about to buyout another cosmetics company which focused more on African-American women by the name of "Satine Cosmetics". But Newman Enterprises outbid Jabot and bought Satine Cosmetics out from under Jabot. Jabot decided to resurrect a similar idea of Ashley's called "Tuvia" to compete with Satine Cosmetics (which Newman later renamed "Safra"). Drucilla Winters (Victoria Rowell) who was a longtime Abbott family friend and Jabot spokeswoman stole a business card that belonged to former Satine Cosmetics chemist Damon Porter (Keith Hamilton Cobb) from her husband's Neil's desk. She convinced Damon to work for Jabot (Tuvia) instead of Newman (Safra). Jabot which was still having financial problems saw the Tuvia line as a way to save Jabot for the long term. Jabot had a long and respected reputation of great products, an experienced chemist in the field in Damon Porter, and long standing ties with popular department stores around the country. The company finally got Victor Newman to let go of the outstanding loans when it was found that he had bribed retailers and sabotaged their very important Tuvia launch. Unfortunately they were not able to financially recover from the losses and they lost Jack Abbott as the CEO due to a deal made with Victor Newman. The company lost its men's line and was forced to shut down its Tuvia brand and lose its Glow By Jabot website. At this time, Ashley Abbott was made CEO.

Bribery Scandal

Victor Newman a man who wanted to destroy Jack and therefore Jabot hired Michael Baldwin to bribe the retailers into giving Newman's Safra the front shelf space that normally showcased Jabot's products. The day before both Tuvia and Safra were to debut Victor went to see Ashley who was staying in a remote cabin and was late into her pregnancy to tell her not worry about what is about to happen. Of course the next day Safra came in first and Tuvia came in second which shocked the Abbotts. The lower then expected sales worried the Abbotts. So Ashley decided to return to Genoa City knowing Victor was behind Tuvia's bad sales. Ashley got into a nasty car crash and was rushed to the hospital. Brad and Ashley's baby (Robert) died as a result. Because of Tuvia's lack luster sales Jack accepted Diane's offer to invest her money into Jabot to bail them out. This was not enough and the company continued to struggle and collapse.

After hiring Victor Newman as a consultant and coming within minutes of filing for Chapter 11 protection a last minute decision was made to sell 51% of the company to Chancellor Industries. This allowed them to pay off all corporate debts, regain Jack Abbott as the CEO and fire Victor Newman. They also ended up losing one of their chemists, Damon Porter as well as Brad Carlton, Phyllis Newman and Nikki Newman.

Corporate Sabotage, the Death of Emma Gibson and the Fallout

Due to a lawsuit resulting from corporate sabotage by former founder John Abbott's wife Gloria Bardwell the company went into a serious tailspin. To get rid of the lawsuit, Chancellor, Jabot's owner at the time struck a deal to fire their CEO Jack Abbott and pay off Emma Gibson's family (the victim). They also brought in PR consultant Carmen Mesta who later moved on to Newman Enterprises before she was brutally killed.

After this Jack Abbott schemed with Korean businessman Ji Min Kim to illegally buy the company out for $250,000,000. This money was acquired deceptively from Victor Newman. During the House of Kim era, Billy Abbott as well as Ashley Abbott moved to Hong Kong to work at House of Kim's local offices. Ashley Abbott would later resign altogether and move on to "Forrester Creations". Eventually their plan was found out and Jack sold the company back to Chancellor Industries for a fraction of what he paid. Katherine fired Ji Min Kim, and Jill Abbott left the company to follow him.

Jabot under Nikki's Leadership

After Ji Min Kim's death in his hotel room, Jill returned to her former position as CEO. In January she was promoted to CEO of Chancellor Industries and Nikki Newman has returned and has assembleded management team which includes executives Brad Carlton, Victoria Newman, David Chow, with Heather Stevens as in-house counsel. The company is currently in a strong financial position and now has a captive international audience, a market never touched before.

To increase consumption and appeal to new customers, Jabot launched the recent Fresh Face of Jabot contest. The winner in the end was Lily Winters. They also formed Jabot Retro to compete with Newmans' Newman Infinity line (formerly known as Beauty of Nature line). A movie deal was also worked out where Jabot Retro will be sponsoring the movie with the release of the new retro line.

In July, word leaked to the media that Chow -- a co-CEO in the company -- had a gambling problem, and share prices for Jabot began to plummet. Nikki Newman was nearly killed by Chow, and Chow himself died in a car accident that critically injured Sabrina Newman, the new young wife of Victor Newman. With Chow dead and Nikki presumably in ICU, Brad Carlton assumed that he would become new CEO, but was informed by Jill that she will be taking the reins, and asked Brad to be patient. Jill Abbott later announced she would become interim CEO of Jabot while they transition to new leadership.

With Jabot stock going down, Jeffrey tells his broker to buy two blocks of stock, but to keep the second block a secret from his wife Gloria, meanwhile, Gloria called ordering her broker to buy up 50,000 shares of Jabot stock and to keep it a secret from her entire family, even her husband. The couple are also buying stock together in the form of a company called "Agreeing Lovers", which Jeffrey opened up in Grand Cayman.

Cane Ashby appointed CEO

In August, after Nikki's (and Victoria's) resignation became final, a new CEO was needed for the company, because Jill was still acting as interim CEO. Despite Brad's desire to be CEO, Jill decided to appoint her son, Cane Ashby (Daniel Goddard), CEO of Jabot Cosmetics and Cane was introduced as the new CEO at a Shareholders' Meeting on August 13, 2008. Brad, to get revenge, would tell Jack Abbott that Jill knew about David's gambling addiction but didn't tell until Nikki resigned, so Brad told him to put it in Restless Style to get back at her.

Jabot Cosmetics Owners

Current

* Chancellor Industries (C.E.O. Jill Foster Abbott, 2005-2006, 2007-present; majority owner)

* Katherine Chancellor (Major Shareholder)

* Ashley Abbott (2006-present, minority owner)

* Billy Abbott (2006-present, minority owner)

* Jill Foster Abbott (1986-present, minority owner)

* Traci Abbott Connolly (2006-present, minority owner)

* Gloria Bardwell (2008-present, minority owner)

Former

* John Abbott (1960s-1990, 1999-2005, 2006, majority owner) (deceased)

* Jack Abbott (2006-2007, majority owner)

* Victor Newman (Consultant; helped bring out of bankruptcy)

* Nikki Newman (2000-2005, minority owner)

* Brad Carlton (2000-2005, minority owner)

* Ji Min Kim (2006-2007, partnership with Jack Abbott)

Jabot Cosmetics Employees

Current

* Katherine Chancellor (Owner & Chairwoman of the Board of Directors)

* Ethan Cane Ashby (CEO of "Jabot Cosmetics", Director of Acquisitions at "Chancellor Industries Construction Company", Board Member)

* Lily Winters ("Fresh Face of Jabot" Model)

* Billy Abbott (Works for "Jabot Cosmetics" overseas)

* Diane Jenkins (Works for "Jabot Cosmetics" in Chicago)

* Ashley Abbott (Board Member, On a leave of absence.)

* Jill Foster Abbott (Board Member, Former CEO of Chancellor Industries). (Asked to step down due to SEC Investigation by CEO son Cane Ashby .)

* Victor Newman (Board Member, Owner & Chairman of the Board at Newman Enterprises)

* Kevin Fisher (Director of Internet Affairs)

Former

* John Abbott (founder and former CEO of "Jabot Cosmetics", former Chairman of the Board of Directors) (Deceased)

* Jack Abbott (Former President and CEO and former Owner of "Jabot Comestics")

* Sharon Abbott (Former Spokesperson for "Jabot Cosmetics")

* Phyllis Summers Newman (Former Web designer for "Jabot Cosmetics")

* Malcolm Winters (Former Photographer)

* Carmen Mesta (Former PR Consultant) (Deceased)

* Ji Min Kim (Former CEO of "Jabot Cosmetics") (Deceased)

* Damon Porter (Former Chemist for "Jabot Cosmetics")

* Drucilla Winters (Former executive at "Jabot Cosmetics") (missing and presumed dead)

* Victor Newman (Former Executive Consultant to Jabot; Former Acting CEO)

* Chloe Mitchell (Former Fashion Coordinator)

* Nikki Newman (Former CEO of "Jabot Cosmetics", Board Member)

* David Chow (Former Co-CEO of "Jabot Cosmetics", Board Member)

* Victoria Newman Hellstrom (Former VP at "Jabot Cosmetics", Board Member)

* Gloria Abbott Bardwell (Former Director of Creative Affairs; Former Receptionist)

* Heather Stevens (Former Corporate Attorney for "Jabot Cosmetics", In-House Counsel)

* Brad Carlton (Former COO of Jabot Cosmetics)

Former Glow By Jabot Employees

* Phyllis Newman

* Sean Bridges

* Mackenzie Browning

* Raul Guttierez

* Brittany Hodges

* Rianna Miner

* J. T. Hellstrom

Trivia

* When Victor Newman was hired as a consultant and given the CEO office to use, Jack Abbott in a fury threw a chair through one of the windows onto the street below.

* Was purchased for $250,000,000 in 2007 and sold for a fraction of that again in 2007.

* Has a very high end reputation in the cosmetics industry.

* Lost its Men's line (created by Jill and Brad) due to financial difficulty.