New York Cosmetics Company Expects to Close Deal Next Month
Estée Lauder is buying high-end skin care brand GlamGlow.
Estée Lauder Cos. is buying high-end skin care brand GlamGlow.
The New York cosmetics company–home to brands such as Clinique, Bobbi Brown and Origins along with its namesake line–said it expects to close the sale next month.
Terms were not disclosed.
GlamGlow was founded in 2010 for backstage and professional use in Hollywood’s entertainment and fashion industry.
“GlamGlow represents the ultimate in innovative facial masks,” Estée Lauder Chief Executive Fabrizio Freda said in a statement.
Estée Lauder group president John Demsey will oversee the acquisition. Mr. Demsey is also overseeing the acquisition of luxury perfume brand Editions de Parfums Frédéric Malle.
That purchase, announced last month, is also expected to close in January.
Estée Lauder’s shares closed on Friday at $76.25, up 1.23% for the year.