Thanks so much to reader Rebecca for the heads-up about this news!
Cosmetics giant L'Oreal, owners of Maybelline, NYX, Garnier, Essie, Urban Decay, The Body Shop, Lancome, YSL, Giorgio Armani, Kiehl's, Clarisonic, Redken and many, many other brands we know and love, is going to purchase IT Cosmetics for a whopping $1.2 billion in cash.
Read the full Bloomberg article HERE.
I never had a chance to post about another recent beauty acquisition (Revlon recently agreed to purchase Elizabeth Arden for $419 million) and now this. I can barely keep track these days!
Thoughts? I'd love to hear what you have to say in the comments below.
Thanks again, Rebecca, for the heads-up about this!