With powerful, world-renowned brands like M.A.C, Bobbi Brown and Aveda already on its roster, it’s remarkable that today Estée Lauder made its biggest acquisition to date. The 70-year-old beauty giant just purchased Californian cosmetics label Too Faced for $US1.4 billion in a bid to attract a younger market.
Too Faced, started by Jerrod Blandino and Jeremy Johnson in 1998, will allow Lauder to reach a younger shopper through the beauty brand’s successful multi-channel approach to marketing. It is stocked in many major department stores, has a successful ecommerce site, plus a huge social media presence with 7.8 million followers on Instagram and 7.3 million likes on Facebook.
The company is also expected to have sales of more than $US270 million in 2016, representing a growth of more than 70 per cent for the year.
There will be plenty of people keeping their eye on the Too Faced position over the coming months as currently more than 83 per cent of sales come from North America so there is definite room for global growth.
