Smashbox to be Acquired by Estee Lauder Companies
Today, Estee Lauder Companies announced that they will be acquiring Smashbox Cosmetics. The acquisition is expected to finish in July 2010. Snippets from the press release below…
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has signed a definitive agreement to acquire Smashbox Beauty Cosmetics, Inc., a privately held, photo studio-inspired prestige cosmetics company based in Los Angeles, California. The acquisition is expected to close in July 2010, subject to certain conditions, including regulatory approval. While terms of the deal were not disclosed, the Company said that the transaction is expected to be accretive to earnings in fiscal year 2011, before transaction and integration costs.
“The Estée Lauder Companies is the ideal home for Smashbox,” said Dean Factor, co-founder and Chief Executive Officer, Smashbox Beauty Cosmetics, Inc. “The Company possesses the scale and vision to help transition Smashbox into its next phase of growth, and its track record of nurturing and growing prestige brands is second to none. Moreover, we share a similar cultural heritage and dedication to consumer-inspired innovation and creativity. We expect to benefit greatly from The Estée Lauder Companies’ extensive knowledge in product development, operational execution, and international marketing and distribution, and we look forward to the next great period of growth for the brand.”
The Estée Lauder Companies will collaborate with the Smashbox organization to develop a comprehensive integration plan to transition Smashbox into The Estee Lauder Companies’ family after closing. Dean Factor, co-founder and Chief Executive Officer, Davis Factor, co-founder, Chief Creative Office and celebrity photographer, and Budd Taylor, President, will each play key roles with respect to these activities and the continued success of Smashbox. Smashbox will continue operating out of its Los Angeles, California office.
This Week’s Beauty Report: Saturday, May 8th, 2010
- Illamasqua‘s BODY ELECTRICS will launch in select Sephora stores and online at Sephora.com this month.
- Kiehl’s will launch SUPER FLUID UV DEFENSE SPF 50+ this May. It contains stabilized Parsol 1789 and Oxybenzone, as well as Homosalate, Octocrylene, and Octisalate for both UVA and UVB protection. It will retail for $32.
- Beauty.com has paired up with Lela Rose to launch the Lela Rose Feather Painted Linen Beauty Clutch, which is available with purchase of $100 or more.
- Smashbox’s Naked Beauty Collection has launched on Nordstrom.
- Kate Somerville launches CYTOCELL, which comes at a pricey $150 for 1.7 oz.
- TEMPTU has their SUMMER GLAM kit, which includes a limited edition blush and highlighter just in time for summer.
Seems like a slow week… Ha!
Smashbox Naked Beauty Collection for Summer 2010
A short and sweet collection from Smashbox will arrive in May, just in time for summer. While we’re on the topic of Smashbox, they launched their official blog this week, and they’re having a celebratory giveaway of $500 in Smashbox makeup to boot!
Photo Finish Lid Primer in Golden Nude ($20.00)
Get lids primed and ready for the perfect eye look with Smashbox’s best-selling, ultra-luxurious lid primer—now in a shimmering nude shade. Designed to create a flawless foundation for shadow, Photo Finish Lid Primer delivers color-correcting benefits and imparts a subtle golden glow for an effortless neutral eye. The exclusive formula contains PhytomoistTM, a plant-based hyaluronic acid for essential moisturization and amino acids for skin smoothing benefits. Soft focus pearls help diminish the appearance of fine lines on the lids, while the patented Qusome delivery system ensures all ingredients penetrate the skin to deliver effective results. Silicone Technology leaves lids silky smooth for a longwearing, fade-resistant finish.
Highl Lights/Creamy Cheek Color in Naked Beauty ($26.00)
Give your cheeks a naturally flushed look with this duo of beautifully bare shades. Infused with antioxidant Vitamin E, the cheek color and highlighter moisturize and protect while enhancing cheeks with a luminous glow.
Naked Beauty Lip Gloss Collection ($25.00)
In an array of barely-there shades, this set of eight mini glosses infuses lips with just the right amount of color and shine for a naturally beautiful finish.
- Included shades: BARE (sandwashed pink), BUFF (sheer soft peach), NAKED (shimmering champagne), NUDE (creamy nude pink), EXPOSED (bubblegum pink), NATURAL (rosebud pink), SUNKISSED (shimmering golden brown), PURE (juicy melon)
Halo Hydrating Perfecting Bronzer ($39.00)
Give skin a barely-there glow with HALO HYDRATING PERFECTING BRONZER, a revolutionary formula designed to impart a naturally naked sun-kissed glow while dramatically minimizing the signs of aging. More than just makeup, the potent powder is an active skin treatment that fights signs of aging below the surface while infusing skin with luminous radiance. Packed with goji berries and pure gold to provide antioxidant protection, the formula contains 48 minerals, 11 amino acids, a powerful peptide and Smashbox’s patented hydrogel technology for sustained release of moisture and a radiant finish.
Availability: Smashbox.com, Sephora, Ulta, Nordstrom beginning May 2010