I am WAY late to this news, since this story apparently broke in March of this year. However, in case you're like me and you didn't know about it, I thought I'd share.
First Coty bought OPI, then L'Oreal bought Essie. So I guess this isn't too shocking. I'm HOPING this means we'll eventually have much better access to all of Sinful Colors' new and LE displays. Wouldn't it be fantastic to have the same type of access to Adventure Island as we do to ColorStay foundation?
Check out this interesting article for more details...
(original source: Chain Drug Review)
April 11, 2011 NEW YORK -- Revlon Inc. has acquired Mirage Cosmetics, owner of the Sinful Colors nail brand.
While the terms of the agreement have not been disclosed, Revlon says it expects to provide more details when it files its first quarter financial statements with the Securities and Exchange Commission later this month.
Revlon executives say Sinful Colors will be operated as a stand-alone business and will help the company meet its previously announced strategic goal of growing its profitability.
The addition of Sinful Colors gives Revlon an entry into the value side of the nail polish market.
"We believe that Sinful Colors will complement our existing color cosmetics offerings," Revlon chief executive officer Alan Ennis says. "We are excited to offer consumers a variety of options in the nail category to fit their different needs and occasions."
Over the past year Sinful Colors, which carries price points of about $2 per item, has become one of the top-selling brands in the value segment.
According to Kline & Co.'s "Cosmetics and Toiletries USA 2010" report, Sinful Colors was the fastest-growing makeup brand last year, with sales increasing by 91%.
Since entering the category in the early 1990s, the Beltsville, Md.-based company has made a name for itself by being quick to market with the trendiest nail polish shades and more than a dozen promotions a year.
Nail care has become one of the brightest sectors of the beauty care business in recent months. According to SymphonyIRI Group Inc., drug store sales across the six product areas that make up the category increased by 8.7% to $97.2 million in the 12 weeks ended February 20. Sales in the overall mass market (excluding Walmart) increased 8.3%.
Much of the growth in the broader nail care market has been fueled by a steady rise in polish sales, which SymphonyIRI notes rose 12.2% in drug stores and 11.5% in the entire mass market during the period.
That has made smaller companies like Mirage appealing takeover targets. Last year, for example, Coty Inc. acquired OPI Products Inc. for an estimated $1 billion and L'Oreal USA bought Essie Cosmetics for a reported $100 million.