This just in!
From
WWD.com:
Estee Lauder Cosmetics, Inc., has made a decisive move and upped the ante in its beauty industry merger and acquisition contest by acquiring the Too Faced makeup brand for $1.45 billion, the largest purchase in Lauder’s 70-year history.
Read the full article HERE.
If you'll recall,
Estee Lauder acquired Becca Cosmetics in October and according to this new WWD article, they have their eye on Drunk Elephant as well.
Thoughts?
28 comments
Wow!!! EL is buying up all my favorites!!
Wow. Jerrod is set for life. I wouldn't be surprised to see a price hike, though.
Omg estee is literally buying every makeup brand.
I hope nothing changes about the products or quality because they are perfect as is right now.
I would argue that Jerrod was set for life BEFORE this acquisition. Lol! But yeah, now he's set for 10 lifetimes!
Will they remain cruelty free??
Is Jerrod the full owner? He seems like a super nice person. Pretty awesome to make this deal.
This is really upsetting. They will raise prices and they aren't cruelty free so I wonder what else will change?
I believe that Jerrod and Jeremy are co-founders and owners, but I recall reading something last year about an investment firm having majority stake in the brand.
This is not my area of expertise, and I don't even want to guess about how this shakes out regarding testing in China, etc. I would wait for an offical press release from Lauder or Too Faced because right now, it's all just guesses.
They just posted this video:
https://www.instagram.com/p/BMzyLJ-hXW1/
Here's what they're saying right now:
https://www.instagram.com/p/BMzyLJ-hXW1/
Looks like they are looking into acquiring the indie brand Drunk Elephant as well...
Yep, I mentioned that in my post. :) They're definitely on a buying spree right now!
Quick update: I re-read the article that I linked to and I totally missed this part of it (just in case you did too):
Giving a salute to Lauder, he said, “They respect our values, our core beliefs that we built our brand on. We will not be animal testing, we will not be going into China, we will not be made to fold into a corporate culture that we do not have. They love and respect what we have created and are just going to support us and lift us up, without changing us in any way but great.”
Quick update: I re-read the article that I linked to and I totally missed this part of it (just in case you did too):
Giving a salute to Lauder, he said, “They respect our values, our core beliefs that we built our brand on. We will not be animal testing, we will not be going into China, we will not be made to fold into a corporate culture that we do not have. They love and respect what we have created and are just going to support us and lift us up, without changing us in any way but great.”
Congrats for Jerrod. Hopefully he can stay on as creative director and they remain cruelty free! He has worked hard for this moment
Even if Too Faced are cruelty free their parent company isn't. Estée Lauder is well know for their cruel animal testing. As an animal lover they brands I can buy keeps getting smaller
That's so wonderful. Let's hope that it's this way in 18 months (says someone who just got burned by a corporate buyout lol!)
I wonder why a brand like Too Faced decides to sell the company?. Just money? I don't see any other benefit for them. I would understand from a new brand so they can grow up in terms of marketing, products creation and their experience. But why Too Faced?
They are cruelty free, and doesn't matter if EL respect that from the brand, on buying any Too Faced products you are supporting a company that test on animals.
I follow Jerrod in YouTube and watched as he and his husband made the announcements. Boy were there a lot of unhappy customers. The biggest compliant was that Estee Lauder test on animals and even tho Jerrod said nothing would change I think he may have lost a good chump of supporters. I personally love too faced and will just wait and see what happens in the up coming months.
Makes me sick that they sold out to a shi**y company that does animal torture aka animal testing. If you support them you will also support their parent company. Their parent company only cares about profit and not the torture of innocent animals. I am now adding too faced to the do not buy crap pile.
I agree with you 100 percent. It is sad that people think that too faced is still cruelty free. If you support too faced you also support their horrible parent company. I also don't like how they are deleting comments that are not buttkissing him on the move on their fb page. I mean he had to know that people would hate the fact that he sold out to a horrible company.
I definitely understand where you're coming from re: non-cruelty free parent companies...but the way I see it, anytime I shop at Sephora, or Ulta, or a drugstore, even if I'm buying cruelty-free products, I can't guarantee that my money is going only to the cruelty-free company. Basically, if you're purchasing makeup anywhere other than directly from the company themselves, you don't know exactly where the money is going, so it's essentially the same when it's a parent company that tests on animals.
This is definitely a grey area though; I'm just sharing my personal opinion! :)
Me too. I feel your pain.
=( so sad.. another company I can no longer buy from. I cannot support animal testing.
Agreed. Their eyeshadows are my favorite.
EL has so many companies under their belt now... Hope they remain truly cruelty free :T
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