Drunk Elephant, the indie skincare brand that hit Australian shores last September, is exploring sale options, according to industry sources.
WWD had previously reported that Drunk Elephant was expected to come to market in 2019, and though books are not out yet, sources said the brand pulled in close to $100 million in net sales for 2018 and was “extremely profitable.”
Before the brand received a minority investment from private equity firm VMG Consumer Partners, WWD reported that founder, Tiffany Masterson, had meetings with multiple executives at the Estée Lauder Cos. Inc. A few years later, the brand is one of the few assets of scale that are up for grabs in the beauty world, and is expected to attract strategic interest.
Sources confirmed Financo and Moelis & Co. had been tapped to explore the process, which was first reported by Mergermarket.
