Estée Lauder Buys Too Faced For a Staggering $1.45 Billion
Unfortunately these days it is not usual for smaller companies to either fold under the pressure or be bought out by one of the bigger brands. Well, yesterday it was announced that Too Faced Cosmetics is being sold to Estée Lauder for the cool sum of $1.45 billion, the biggest acquisition in Estée Lauder history.
It wasn’t too long ago that Estée Lauder announced the purchase of Becca Cosmetics for $230 million, indeed the finalization of that deal went through at the same time as the Too Faced announcement. It is also rumored that the company is interested in buying Drunk Elephant, so we will wait and see if that comes to fruition.
But what will this mean for Too Faced fans?
Too Faced confirmed that: "The formulas will stay the same, and yes, the brand will stay 100% cruelty-free!"
Jeremy Johnson and Jerrod Blandino, co-founders of Too Faced said in an official statement. “We started our careers behind the counters of the Estée Lauder brand, so this is truly a ‘homecoming’ for us, The Estée Lauder Companies appreciates our unique vision — to provide innovative, cruelty-free makeup products that give women the confidence to ‘have fun, play, and dream big’ — and is committed to ensuring that we retain and build on the core pillars of our brand that are so important to us and our fans.
“They respect our values, our core beliefs that we built our brand on. We will not be animal testing, we will not be going into China, we will not be made to fold into a corporate culture that we do not have. They love and respect what we have created and are just going to support us and lift us up, without changing us in any way but great.”
I guess it is up to individuals to decide if this acquisition will in any way change their view of the company. If you buy Too Faced simply because you like the brand or particular products then it probably won’t impact on you. However, if the cruelty-free side of the company is what makes you a fan, you will have to decide if the fact that Too Faced itself will remain cruelty-free is enough for you, or the fact it is now owned by a company not known for its cruelty-free stance will put you off the brand completely. Time will tell...