Posted on May 17th, 2010 | Categories: Aveda, Beauty News, Clinique Skincare & Cosmetics, Estee Lauder Skincare & Cosmetics, MAC Cosmetics, Origins Cosmetics, Smashbox Cosmetics
After an announcement yesterday, Estee Lauder has confirmed their intentions for Smashbox to become part of the Estee Lauder family. Estee Lauder already owns several popular brands including MAC Cosmetics, Aveda, Origins, Bumble and Bumble, Prescriptives and Clinique as well as their own cosmetics brand. Estee Lauder will purchase Smashbox Beauty Cosmetics Inc. in a deal that is expected to close sometime around July. Their intentions with the deal are to attract a broader base of younger, more modern customers. Estee Lauder believes they have the expertise to help the brand reach its full sales potential. When the company purchase the MAC Cosmetics brand in 1998, it had sales of about $100 million. It has now become an over $1 billion business and Estee Lauder hopes to have the same monetary success will the Smashbox brand.
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