09.09.16
While The Estée Lauder Companies is on a roll with purchases of niche fragrance brands, L’Oréal continues to access promising players in the color cosmetics space. Most recently, the world’s largest beauty company snagged the prestige, privately owned U.S. brand, IT Cosmetics, for $1.2 billion.
Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons, and includes more than 300 beauty products focusing on color cosmetics, skin care, brushes and tools. The brand’s multi-channel distribution model includes TV channels QVC and TSC, specialty stores ULTA and Sephora, and the brand’s website. For the 12 months ending June, 2016, IT Cosmetics reported net sales of $182 million. IT will continue to operate out of its Jersey City, NJ headquarters under the current leadership team.
But L’Oréal is not exclusive to makeup buyouts. The firm has reportedly also made an offer to acquire Société des Thermes de Saint-Gervais-les-Bains, a spa group located in Mont-Blanc, as well as the license to use the Saint-Gervais Mont-Blanc beauty brand. The France-based brand produces chemical-free skin care products made with thermal spring water from Mont Blanc, which are said to promote health benefits.
Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons, and includes more than 300 beauty products focusing on color cosmetics, skin care, brushes and tools. The brand’s multi-channel distribution model includes TV channels QVC and TSC, specialty stores ULTA and Sephora, and the brand’s website. For the 12 months ending June, 2016, IT Cosmetics reported net sales of $182 million. IT will continue to operate out of its Jersey City, NJ headquarters under the current leadership team.
But L’Oréal is not exclusive to makeup buyouts. The firm has reportedly also made an offer to acquire Société des Thermes de Saint-Gervais-les-Bains, a spa group located in Mont-Blanc, as well as the license to use the Saint-Gervais Mont-Blanc beauty brand. The France-based brand produces chemical-free skin care products made with thermal spring water from Mont Blanc, which are said to promote health benefits.