Estée Lauder is making big moves.
The beauty giant just acquired Too Faced for $1.45 billion dollars — this news comes shortly after they bought out Becca Cosmetics.
This buyout makes sense as Estée Lauder has been making efforts to appeal to the millennial market, in which Too Faced is already a leading brand.
“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,” said Fabrizio Freda, president and chief executive officer of Estée Lauder.
However, not everyone is happy about the acquisition — because while Too Faced is known for their commitment to creating cruelty-free products, fans are worried that this new ownership will change the way products are formulated.
In response to concerned fans, Too Faced co-founder, Jerrod Blandino stated, “[Estée Lauder] respect[s] our values, our core beliefs that we built our brand on. We will not be animal testing, we will not be going into China, we will not be made to fold into a corporate culture that we do not have. They love and respect what we have created and are just going to support us and lift us up, without changing us in any way but great.”
What are your thoughts on the new acquisition? Tell us your thoughts in the comments below!
xx, The FabFitFun Team