- 3 -
established by Mr. Mitchell. It is the value of these shares at
the moment of Mr. Mitchell's death that we must determine.2
B. Paul Mitchell
Paul Mitchell was born Cyril Thomson Mitchell in Scotland on
January 27, 1936. His mother was a hairdresser. At the age of 16,
he enrolled in beauty school, and after a 5-year apprenticeship, he
became a "qualified hairdresser". Thereafter, Mr. Mitchell worked
in four salons and won several competitive hair contests in
England.
In the early 1960's, Mr. Mitchell pursued fashion hair styling
working with Vidal Sassoon and became one of London's best known
hair stylists. When Mr. Sassoon opened his first U.S. salon, he
chose Mr. Mitchell to train the staff. While employed with Vidal
Sassoon, Mr. Mitchell brought to the United States the "blow dry"
look.
In 1966, Mr. Mitchell left Mr. Sassoon and became director of
Bendel's Beauty Floor at Henri Bendel's in New York City. While he
was at Bendel's, his work was featured on the covers and pages of
major fashion magazines. He became known as the "haircutter's
haircutter".
In 1967, Mr. Mitchell and other investors opened Crimpers
Salon, a successful high-fashion cutting salon, in New York City.
2 We believe the moment-of-death valuation is appropriate
in this case due to the importance of Mr. Mitchell to, and the
impact of his death on, John Paul Mitchell Systems.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011