It's been a relatively quiet few months in the world of beauty M&As compared to the end of last year, but it looks like a significant acquisition could soon take place. According to WWD, Hourglass Cosmetics has hired investment bank Ohana & Co. to consider a sale.
The publication reported that the auction for Hourglass will be a competitive one and that L'Oréal is already involved. Famous for its Ambient Lighting powders and palettes, Hourglass has approximately $US70 million in net sales and is still expanding within the prestige cosmetics market which is growing faster than any other category. These factors will undoubtedly contribute to the overall value of the company and the final deal.
In 2016, several companies in the same space sold for large sums: L’Oréal purchased IT Cosmetics for $US1.2 billion, and Estée Lauder Cosmetics Inc. acquired Too Faced for $US1.45 billion.
Hourglass founder Carisa Janes launched the brand at Barney's in New York in 2004 and it's now sold in multiple, big-name retailers across the world including Mecca here in Australia.
