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Billion-dollar deal for prestige cosmetics big at QVC, Ulta and Sephora.
July 22, 2016
By: Melissa Meisel
L’Oréal will acquire IT Cosmetics, one of the fastest growing prestige beauty brands in the United States for a cash purchase price of $1.2 billion. Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons to provide women with innovative, problem-solving skincare and makeup products that empower them to feel confident and beautiful. IT Cosmetics offers more than 300 high-performance beauty products focusing on color cosmetics, skincare, brushes and tools. IT Cosmetics’ multi-channel distribution model includes select television shopping channels, specialty stores and the brand’s website. For the 12 months ending June 2016, IT Cosmetics had net sales of $182 million, up by 56%.
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