08.04.14
L’Oréal continues to buy American indie brands with strong followings. Los Angeles-based NYX Cosmetics is the latest in the string of recent acquisitions, following the purchase of Urban Decay and the launch of blogger Michelle Phan brands. It’s the latest move by the French mega-company to add niche U.S. players to its portfolio. And apparently, there may be additional purchases on the horizon. In a recent interview with Bloomberg Television, Jean-Paul Agon, L’Oréal’s chairman and chief executive officer, said, “We are confident that we will find other opportunities this year or next year.”
Headquartered in Los Angeles, NYX was created in 1999 by entrepreneur Toni Ko and is often referred to as the “MAC of mass,” due to its “high quality, on-trend professional color cosmetics at attractive prices.”
In 2013, NYX reported net sales of $72 million, a growth of 46% over 2012 sales.
Headquartered in Los Angeles, NYX was created in 1999 by entrepreneur Toni Ko and is often referred to as the “MAC of mass,” due to its “high quality, on-trend professional color cosmetics at attractive prices.”
In 2013, NYX reported net sales of $72 million, a growth of 46% over 2012 sales.