Japanese skin-care giant Shiseido—which is home to brands like NARS and Clé de Peau Beauté—just announced its acquisition of seven year-old “clean beauty” brand Drunk Elephant for $845 million, WWD reports. The deal marks the second-largest acquisition of the year, second only to L’Occitane’s $900 million purchase of Elemis in January.
Described by Masahiko Uotani, Shiseido’s president and chief executive officer, as “one of the fastest-growing skin-care brands in history,” the punchy, Gen Z– favored brand saw skyrocketed growth this past year, with sales netting out close to $100 million. Now, according to a press release, Shiseido hopes Drunk Elephant will leverage their “global platform and help resources to expand into new and existing markets both in the Americas and internationally including Europe and Asia.”
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“I started this business as an industry outsider, and from the beginning I did things a little differently,” says Drunk Elephant founder, Tiffany Masterson. “To join with a powerhouse beauty company such as Shiseido that leads the industry in innovation and global excellence is a dream come true for me and for Drunk Elephant.”
Masterson assures us that the acquisition won’t touch change we love most about the buzzy brand via a sentimental Instagram posted this morning. “I want to reassure you. The formulations won’t be changing. I’ll remain in my same role. My same incredible and lovable entire team will stay with me. If it wasn’t announced, you wouldn’t be able to tell the difference; that’s our main goal. Our prices will not be increased. And, we’ll remain cruelty-free. I wouldn’t have signed on for this unless both parties could agree. Fortunately, we wanted the same things; we share like values. I feel so honored to join this global powerhouse.”
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