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December 22nd 2014 / 0 comment
In its fourth signing since October, the beauty giant adds to its ever-expanding empire with latest acquisition
“The acquisition race between Estée Lauder Cos. Inc. and L’Oréal USA hit a crescendo Friday afternoon with Lauder’s acquisition of hot indie skincare brand GlamGlow.
“Terms of the deal were not disclosed, although informed Wall Street sources estimated the purchase price could range from an initial $100 million or $125 million to a final possible payout of $200 million to $220 million.
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“GlamGlow’s retail sales for 2013 are estimated at $90 million by Wall Street sources, and the brand is sold in about 88 countries globally, with nearly 6,500 doors serviced by a network of distributors. Although the business was established only four years ago, GlamGlow is thought to be profitable, and sources indicate that Lauder intends to build upon the bottom line.”
Read more at WWD.