L'Oréal agreed to acquire NYX Cosmetics for an undisclosed price. NYX will continue to operate from its Los Angeles headquarters under the brand’s current leadership team, Paris-based L’Oreal said today in a statement.
Founded in 1999, NYX sells $6 blush and $10 eyeliner in more than 70 countries. The company says it’s one of the fastest-growing cosmetics companies in the US, as sales in the 12 months through May rose 57% to $93 million.
“NYX has seen tremendous growth in the last decade and I have complete confidence that L’Oreal will remain true to its brand identity and mission,” Toni Ko, NYX’s founder and chairwoman, said in the statement.
“NYX is a dynamic company that has done a tremendous job of harnessing the power of social media, digital marketing and multi-channel distribution” said Frédéric Rozé, President and CEO of L’Oréal USA. “Both L’Oréal and NYX share a passion for innovation and a confidence in the strength and vitality of the color cosmetics market.”