L’Oréal Australia has acquired nail care brand Essie Cosmetics as of today, February 1. The acquisition comes following an agreement made in April, 2012.
This strategic acquisition will enable L’Oréal to increase our share in the nail colour and care market, which has seen significant growth year over year,” said Frédéric Rozé, president and CEO of L’Oréal USA.
Essie Weingarten, the founder of the company, and Max Sortino, CEO of Essie, will continue to play pivotal roles within the brand. It’s a perfect match,” says Weingarten. This acquisition presents a tremendous opportunity to allow the Essie brand to grow even stronger. With Max and me as part of the team, we will be able to provide our customers with a greater level of service as we take the brand to new heights.”
L’Oréal Australia will manage the consumer and retail element of Essie from today, while BLC Cosmetics will remain the distributor for Essie’s salon business until 2015 or otherwise agreed upon.
