It’s been SEPHORA’s top growth skincare brand in 2016, with Drunk Elephant achieving cult status in the two years since launching. Now, the 10-product range has reportedly caught the eye of industry giant Estée Lauder Companies Inc.
According to WWD sources, group president Jane Hudis has met up with Drunk Elephant founder Tiffany Masterson, with the company’s chief executive officer Fabrizio Freda also set to meet with Masterson this week.
Drunk Elephant has witnessed incredible growth in the past year, with a 400 per cent increase in retail sales YOY as recorded in May 2016. The brand is projected to record $20 million in sales for 2016.
During a recent interview, Masterson stated: “We’ve been in talks with private equity and strategic partners, and we’re assessing that need right now. We’re coming close to a conclusion. We’ll possibly bring in some sort of investment partner simply because we need help handling the intense growth.”
Estée Lauder has not commented on the rumours.
Image: @drunkelephantskincare
