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.
Wow. I would have never known that. I love SC and I hope they market it the way it deserves.
ReplyDeleteI Never knew that, but It makes so Much sense. Since Sinful colors has been duping a ton of OPI colors lately. While Revlon has been duping Chanels NP. I'm all for the take over. :) Hope they spread to other places besides Walgreens soon too.
ReplyDeleteHrm. 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%. I am NOT surprised! I predicted the increase in nail polish sales when the recession first started, because it's cheaper to do your own nails than it is to go to a salon. People have to cut down on expenses! And Sinful Colors is a great brand for the price. (G., you already know I'm a fan, obviously!) If they had that much of an increase in sales, they'd be very appealing to a larger company. I just hope that they don't raise prices after they get everything settled.
ReplyDeleteI had no idea! This news came out in March?? Thanks for sharing the information :) I'm definitely hoping this means easier access to new Sinful displays, still can't believe I drove to that many Rite Aids just to track down Open Seas.
ReplyDeleteMan I hope it becomes more accessible. It really is a fabulous brand. I just reviewed Unicorn and fell in love all over again.
ReplyDeleteSinful Colors is already at Target not just Walgreens.
ReplyDeleteI have mixed feeling this. This may mean SC gets in more stores the same way Essie is which is good. But so many smaller companies are being taking over by big corps. That can have some unintended consequences.
While I'm glad they are more accessible, I completely agree with soresilient. We'll have to wait and see.
ReplyDeleteTo me, Sinful Colors is always a hit or miss. I have three- Aqua, Mystery, and Oh La La. They are fabulous colors but take a little while to dry......
ReplyDeleteI've seen Sinfuls at Target,too. My Walgreens has yet to stock the Adventure Island colors,and at this rate,they probably won't. It seems they have a hard time moving their products,because they never did get the Wet n Wild Mermaid's Cove,and they still don't have other things that should already be on the shelves.Oh well, I sometimes have to go way across town to get some stuff.
ReplyDeleteHey lady!
ReplyDeleteDid they only buy out the nail division or the full brand in general?
Either way, they used to make some fabulous brushes & decent cosmetics in general for the pricepoint!
=)
So now they own Sinful and Bari Cosmetics (Pure Ice) which means, since Revlon has now expanded their markets to Asia, they are no longer cruelty-free. That doesn't leave much in the way of "drugstore polishes" that are still cruelty-free. Milani? I am SO disappointed in Revlon.
ReplyDelete