Estee Lauder is to buy Smashbox Beauty Cosmetics, with a view to reaching new and younger consumers.
Smashbox was founded in 1996 by brothers Dean and Davis Factor, great-grandsons of the legendary professional make-up artist Max Factor.
They were inspired by celebrities to create a "unique makeup brand that met the highly demanding needs of a professional photo shoot".
Smashbox has since established itself as a highly successful prestige cosmetics brand, with the majority of its sales generated in North America.
"We are energised by the promising momentum of Smashbox and believe the brand will help attract new and younger consumers to The Estee Lauder Companies all over the world," said Fabrizio Freda, president and chief executive of Estee Lauder.
It is expected that the deal will be completed in July this year.
Estee Lauder is known for its collaborations with legendary professional make-up artists, with the brand's current creative make-up director being none other than Tom Pecheux.
Posted by Jeanette Morton
Article Last Updated: 18/05/2010 11:57:40
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