UPDATE November 17, 2016
After news broke of Estée Lauder’s acquisition of Too Faced earlier this week, fans expressed concerned about whether or not the brand would part ways with its cruelty-free promise. Reason being: Estée Lauder sells its beauty products in China, where animal testing is required by law. However, Too Faced cofounder Jerrod Blandino issued this statement of reassurance on Instagram yesterday:
”My values, morals and heart will never change. I have built my life and my company with love, kindness, positivity and compassion for animals and all of God’s creatures. That will NEVER change. This is way bigger than business for me, it’s my life and my heart at the deepest level. It means everything to me. We have been a champion for animals since our beginning in 1998 and that has only grown stronger and more powerful with every passing day. Rest assured we continue to have iron-clad rules in place that will ensure we will NEVER test on animals and we will NOT sell in China. I’m truly honored that we continue to be supported and acknowledged by Peta. Thank you for your passion and support for animals, I’m grateful you’ve used your voices to ensure animals are protected and treated with kindness and love. I’m right there with you and always will be.”
Originally Published November 15, 2016
The beauty colossus that is the Estée Lauder Companies never seizes to amaze me. Adding to its powerful roster of 28 brands, including MAC, Clinique, La Mer, and the recently acquired Becca Cosmetics, the company just purchased cult-favorite Too Faced Cosmetics, making it lucky number 29.
According to WWD, the deal rings in at $1.45 billion, which is one of the largest beauty acquisitions we’ve seen as of late. It’s a big move, but a good one, as it helps to diversify the Estée Lauder Companies’ portfolio and reach a younger generation of beauty junkies. And let’s be honest, even if you aren’t a millennial, who can resist Too Faced’s Better Than Sex Mascara and Chocolate Soleil Matte Bronzer, which actually smells like chocolate?
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Fabrizio Freda, president and chief executive officer of the Estée Lauder Companies, told WWD: “The acquisition of Too Faced is complementary to our portfolio of brands because it has a unique feminine and millennial communication focus, which is really complementary with very little cannibalization with the rest of our makeup portfolio.” We couldn’t agree more.