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Industry buzz

Estée Lauder targets millennials with Too Faced acquisition

The Estée Lauder group is about to acquire Too Faced, one of the fastest growing makeup brands in specialty-multi and online, for a purchase price of approximately US$1.45 billion. Through this acquisition, the group expects to strengthen its leadership position in the fast-growing prestige makeup category globally, and to increase its consumer reach in the specialty-multi channel, and win with millennials.

Launched in 1998 by Jerrod Blandino and Jeremy Johnson, Too Faced offers a line of cosmetic products for the eyes, face and lips. Beloved for its high-quality, innovative formulas, irreverent product names and distinctive packaging, Too Faced creates an emotional, authentic connection with consumers and has developed a strong following and built a vibrant community among millennials who are passionate about social media, fashion and pop culture.

Too Faced has experienced impressive growth over the past several years, and is expected to reach more than US$270 million in net sales in 2016. This represents growth of more than 70% for the year and 60% compounded annually over the past three years.

The acquisition is expected to close in December 2016.

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