Hold onto your hats, the Estee Lauder Companies whose portfolio already contains such iconic brands as Tom Ford, Bobbi Brown, MAC, Clinique, Aveda and many many others has just announced plans to acquire Smashbox Cosmetics. This could be great news for the brand which has had cult status for quite a while now. This is also a coup for Estee Lauder as Smashbox is a brand that was an early adopter of social media promotion and practices, an area that The Lauder Companies (with the exception of Bobbi Brown) has initially been slow to embrace. The expertise that Smashbox possesses in using social media, coupled with the corporate muscle of the Lauder Companies could just catapult the brand into the stratosphere.
Smashbox Beauty Cosmetics was founded in 1996 by brothers Dean and Davis Factor, great-grandsons of the makeup legend Max Factor, who were inspired by photo studio celebrities to create a unique makeup brand that met the highly demanding needs of a professional photo shoot. Since that time, Smashbox has established itself as a highly successful prestige cosmetics brand and a top performer in specialty channels. Currently, the majority of Smashbox’s sales are based in North America.
William P. Lauder, Executive Chairman of The Estée Lauder Companies, said, “One of the enduring strengths of The Estée Lauder Companies is our ability to identify brands with unique positioning and nurture those brands to accelerate their momentum and realize their full growth potential. The addition of Smashbox to our portfolio continues this 64-year legacy. We expect that with our strong cultural synergies and shared appreciation for family heritage, this will be a wonderful union.”
The Estée Lauder Companies will collaborate with the Smashbox organization to develop a comprehensive integration plan to transition Smashbox into The Estee Lauder Companies’ family after closing. Dean Factor, co-founder and Chief Executive Officer, Davis Factor, co-founder, Chief Creative Office and celebrity photographer, and Budd Taylor, President, will each play key roles with respect to these activities and the continued success of Smashbox. Smashbox will continue operating out of its Los Angeles, California office.