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Estée Lauder acquires luxury skincare brand Rodin Olio Lusso
October 24th 2014
Estée Lauder expands its empire with second deal of the month
The Estée Lauder Cos. Inc. is on something of a shopping spree.
WWD has learned the beauty giant has acquired stylist Linda Rodin’s luxury skin care brand Rodin Olio Lusso for an undisclosed sum. The acquisition marks the second deal this month for Lauder — the ink is effectively still drying on its agreement to buy indie fragrance brand Le Labo.
Lauder has a cash stockpile of $1.63 billion and has been on the hunt for new brands to nurture and grow — and to keep up with arch rival L’Oréal, the world’s largest beauty company. As a result, there are no signs Lauder is done expanding its empire since L’Oréal continues to do deals of its own.
“The purchase of Rodin Olio Lusso enhances the company’s position in the skincare category and gives it another tool to tap into the booming oil market.”
Read more at www.wwd.com.