Another small cosmetic company has been acquired by one of the cosmetic industry giants. If you are a fan of IT Cosmetics, it is being acquired by L’Oréal for a whopping $1.2 billion!
For those of you who are unfamiliar with the product, IT Cosmetics is a cover, concealing makeup line. The cosmetic line has over 300 products across many skin tones. IT Cosmetics also has skin care product, brushes and other accessories. IT has been marketed on QVC and is also sold in stores such as ULTA and Sephora. Partnering with L’Oréal will help to expand the cosmetic line to more stores and globally.
To read more on this topic, click on the following link:
Utroske, D. (2016). Cosmetic Design USA, “L’Oréal will acquire IT Cosmetics”. Retrieved July 28, 2016, from: http://www.cosmeticsdesign.com/Business-Financial/L-Oreal-will-acquire-skincare-makeup-company-IT-Cosmetics-for-1.2-bn/?utm_source=newsletter_daily&utm_medium=email&utm_campaign=25-Jul-2016&c=9sHOSUTBWSjQI1h2cIS%2FsIKdlk6zyVzN&p2=