Australian-founded beauty brand, BECCA Cosmetics, has announced it's closing down.
The cult classic brand, owned by Estée Lauder Companies (ELC), shared a statement confirming it will no longer be in business come September 2021.
"The global pandemic has had an impact on everyone around the world on many levels. It has also had a tremendous impact on so many businesses," the statement reads.
"At BECCA, an accumulation of challenges, together with the global impact of COVID-19, has sadly been more than our business can withstand, and we have had to make the heartbreaking decision to close down the BECCA brand at the end of September 2021."
BECCA was known for bringing the glow, and had many hugely successful collaborations with the likes of Chrissy Teigen, Khloe Kardashian, and Jaclyn Hill.
"We believe in you, and we believe that the beauty inside you is the light you share with the world. We are confident that the spirit of BECCA will continue to live on through all of you," the statement continued.
"Please keep illuminating your true selves. Light your own paths and push your limits. Share positivity and light the way for others as you make an impact on this world. Own your light on your own terms."
The news comes just one day after ELC acquired skincare company, DECIEM, with a $2.2 billion valuation. The move marks ELC's biggest deal yet, taking its initial investment of The Ordinary's parent company from 29% to 76%, within three years.
According to reports by WWD, sadly all BECCA employees will lose their jobs. However a source told the publication that Lauder is working to shift those employees to other ELC brands wherever possible.
