The downturn of the economy over the past year has even affected the cosmetics industry. Yet, who would think we would see the demise of one of the industry's best cosmetic brands? After long speculation the Estée Lauder Cos. said Thursday that it will close the retail distribution of its 30-year-old Prescriptives brand by Jan. 31.
President and COO of Estee Lauder Fabrizio Freda stated, 'We believe that the difficult decision relating to Prescriptives will allow us to redirect our resources to key strategic imperatives where we see the highest growth potential.'
Prescriptives will close on 31st January 2010, after that date, the brand famous for it's cult skin care and custom blend make-up range will no longer be produced but will remain on sale until supplies are sold out. Stock up now.
Kelley Epps-Woods, Beauty Editor
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