I've got some big beauty news: The Estée Lauder Companies, Inc. has just bought Too Faced for way more than you could ever imagine — a whopping $1.45 billion dollars, according to Bloomberg. Casual, I know. According to Women's Wear Daily, this major purchase of the makeup brand is the largest Estée Lauder has paid for another brand in its 70-year history. Talk about a milestone.
Of course, you can probably imagine why Estée Lauder paid such a hefty price for the cosmetics company. Too Faced is a unique, playful, and high-quality brand that appeals to the millennial generation and beauty lovers alike. Not to mention their subtle boudoir theme, colorful packaging, and delicious collections (Chocolate Chip Palettes or Sweet Peach collection, anyone?) make their launches must-haves.
Too Faced has become one of the top selling brands among retailers, which put it on the radar for Estée Lauder. Now that the company has taken the cosmetics brand under its wing, it appears that Too Faced will take a more global approach in its future. Seeing that they've acquired major powerhouse brands like MAC Cosmetics, Bumble and Bumble, Tom Ford Beauty, and Jo Malone, it seems that Too Faced's only direction to go from here is up.
The founders of Too Faced made the announcement of the acquisition today on their Instagram account, but the video has since been taken down. In the video, founders Jerrod Blandino and Jeremony Johnson addressed their fans, saying that they would honor their committment to staying cruelty-free.
Too Faced has been churning out product after product over the years that sell out in record time, like the Sweet Peach collection.
The brand's Better Than Sex mascara has been one of the top selling mascaras everywhere.
What will the future of Too Faced look like after this major move in the beauty industry? My guess is more incredible and delicious-smelling collections. I guess we will have to wait and see!
Images: Estee Lauder