07.04.22
Too Faced is closing its Tmall Global flagship next month. The move has observers speculating that the brand may exit China entirely.
The Estée Lauder Cos. acquired Too Faced for $1.45 billion in 2016. It is the seventh largest prestige makeup brand in the US. According to sources, all products in the store have been taken down from shelve. Membership services and points redemption will remain open until July 27, according to the brand’s announcement on its flagship.
“After a careful and thorough review, Too Faced Tmall global flagship store will cease its operations in August," ELC told WWD. "This is an adjustment of distribution channel and will not impact Too Faced’s long-term strategy in China. We want to take a step back to better evaluate how we can best serve our customers here in the future. We look forward to continuing to bring inspiring products and unique experiences to our customers.”
Observers blame the exit on the covid-19 pandemic and a highly competitive Chinese cosmetics market. However, Moojing Market Intelligence gathered data during this year’s Tmall’s 618 online shopping festival shows that Estée Lauder, La Mer and MAC Cosmetics entered the top 10 positions in the skincare and color cosmetics categories.
In May, Too Faced Co-Founders Jerrod Blandino and Jeremy Johnson left the brand.
The Estée Lauder Cos. acquired Too Faced for $1.45 billion in 2016. It is the seventh largest prestige makeup brand in the US. According to sources, all products in the store have been taken down from shelve. Membership services and points redemption will remain open until July 27, according to the brand’s announcement on its flagship.
“After a careful and thorough review, Too Faced Tmall global flagship store will cease its operations in August," ELC told WWD. "This is an adjustment of distribution channel and will not impact Too Faced’s long-term strategy in China. We want to take a step back to better evaluate how we can best serve our customers here in the future. We look forward to continuing to bring inspiring products and unique experiences to our customers.”
Observers blame the exit on the covid-19 pandemic and a highly competitive Chinese cosmetics market. However, Moojing Market Intelligence gathered data during this year’s Tmall’s 618 online shopping festival shows that Estée Lauder, La Mer and MAC Cosmetics entered the top 10 positions in the skincare and color cosmetics categories.
In May, Too Faced Co-Founders Jerrod Blandino and Jeremy Johnson left the brand.