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Too Faced bought out
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US cosmetics maker Estee Lauder on Monday snapped up the beauty products brand Too Faced, beloved by the younger demographic, for US$1.45 billion in its biggest acquisition to date. The deal aims to “strengthen the company’s leadership position in the fast-growing prestige makeup category globally, increase the company’s consumer reach in the specialty-multi channel, and win with millennials — all in strong alignment with the company’s strategy,” Estee Lauder said in a statement.
The company, which has catered heavily toward older women, was impressed with the loyalty Too Faced has generated, and was willing to pay the price to lock in its growth strategy.
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