Just as I excitedly checked out one of my favorite brands, Smashbox's display and products at The Makeup Show this past weekend, I get news that The Estee Lauder Cos. plans to to acquire Smashbox Beauty Cosmetics Inc.!
Just announced today, Estee Lauder said that it has signed a definitive agreement to buy Los Angeles-based company Smashbox Cosmetics, and the deal is expected to close in July.The brand—founded by the great-grandsons of legendary Hollywood makeup artist Max Factor, Dean and Davis Factor, in 1996—generates about $80 million in wholesale net revenue and roughly $140 million in retail sales, according to a source with knowledge of the company's finances.
This is huge and sources also speculate that the sale price ranged between $200 million and $300 million.
Smashbox has been growing quickly particularly when it comes to TV shopping, and its presence in open-sell store formats, include Ulta, Sephora and Macy's Impulse Beauty concept.
There should be an exciting future for Smashbox, and we cannot wait to see the developments in store for the brand from Estee Lauder!
Second City Style, Beauty Editor Kelley Epps-Woods