Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News L’Oreal signs deal to acquire IT Cosmetics

L’Oreal signs deal to acquire IT Cosmetics

27th July 2016

L'Oreal has agreed a deal to purchase IT Cosmetics, one of the fastest-growing prestige beauty brands in the US.

The $1.2 billion (914.83 million pounds) will see IT Cosmetics become part of the Luxe division of L'Oreal, with the brand to continue to operate out of its existing New Jersey headquarters under the current leadership team.

Founded in 2008 and co-owned by TSG Consumer Partners, IT Cosmetics was established with input from leading plastic surgeons and offers more than 300 high-performance beauty products, focusing on colour cosmetics, skincare, brushes and tools.

Its distribution model includes selling products TV shopping channels including QVC and TSC, as well as through specialty stores and the brand's own website. In the 12 months leading up to June 2016, the firm's net sales came to $182 million, up by 56 percent year over year.

Nicolas Hieronimus, president of L'Oreal's Selective Divisions, said: "We are happy to welcome IT Cosmetics to the L'Oreal dream team which includes other great beauty brands such as Lancome, Kiehl's, Yves Saint Laurent, Armani and Urban Decay."

This comes after the firm agreed to purchase Societe des Thermes de Saint-Gervais-les-Bains earlier this month, acquiring the licence to use the Saint-Gervais Mont-Blanc brand in the process.ADNFCR-8000103-ID-801822614-ADNFCR

We currently have 5 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.