Too Faced is growing up! The brand started by Jarrod Blandino has just be acquired by the Estée Lauder family. The acquisition of the company cost a cool $1.45 billion,according to WWD, which happens to be the largest purchase for Estée Lauder."The acquisition of Too Faced is complementary to our portfolio of brands because it has a unique feminine and Millennial communication focus, or which is really complementary with very slight cannibalization with the rest of our makeup portfolio," president and CEO Fabrizio Freda of Estée Lauder told WWD.
Too Faced, which launched in 1998, and has since become the number one seller at Sephora with its Better Than Sex mascara line. Cofounder Blandino says he believes the unique partnership with Estée Lauder will allow Too Faced to spread its products across the globe while maintaining its core values."We are going to take a more global approach to the commerce going forward. When you view at what Estée Lauder has been able to do with MAC [Cosmetics] and Jo Malone and different brands that have their own retail outlets,it's just been phenomenal and we're really excited approximately that opportunity and the potential behind that." Blandino assured faithful costumers that Too Faced will remain cruelty-free. "We will not be animal testing, we will not be going into China, and we will not be made to fold into a corporate culture that we do not have," Blandino noted. "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 much, and " he added.
With the unique deal set in dwelling,Too Faced cofounders are looking forward to an exciting future working with Estée Lauder and producing top-notch content for consumers, including a skin care and fragrance line. "We are going to continue to dominate the color category, and spinning skin care ingredients into the color cosmetics arena," Blandino revealed regarding the future of Too Faced. "There are so many different places that we can travel now because we have the support and resources. We have just been trying to keep up with the momentum of the shooting star that we created in 1998." Sounds like a win-win situation to us.
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Source: popsugar.com