Estée Lauder Closing Becca Cosmetics: How Long Makeup Lovers Have To Buy Products
The Estée Lauder Companies is closing down its makeup brand Becca Cosmetics following 20 years in business.
On Wednesday, the company shared the announcement on its official website, revealing the makeup brand was forced to shut down after it was hit hard by the COVID-19 pandemic.
Makeup lovers will have until the end of September 2021 to snatch up their favorite Becca Cosmetic products. After that, products will no longer be available for purchase.
“The global pandemic has had an impact on everyone around the world on many levels. It has also had a tremendous impact on so many businesses,” the brand wrote in a statement.
The Estée Lauder Companies to Increase Its Ownership in DECIEM
Tuesday, February 23, 2021 5:31PM IST (12:01PM GMT)
ELC will expand its investment in the company behind fast-growing skin care brands The Ordinary and NIOD, and establish terms for full ownership in three years
New York, United States:
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has entered into an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. (“DECIEM”) from approximately 29% to approximately 76% (the “First Phase”). The transaction is expected to close in the quarter ending June 30, 2021. The Estée Lauder Companies Inc. (“ELC”) has agreed to purchase the remaining interests after a three-year period (the “Second Phase”).
Canada-headquartered Deciem has seven functional skin care brands, including The Ordinary which has a range of simple but functional face care blends (Image: Getty Images) Prestige beauty major The Estée Lauder Companies will up its investment in mass functional beauty player Deciem, establishing terms for full ownership in three years – a move that will diversify it into the increasingly important masstige market, an expert says.
Since 2017, Estée Lauder already held a 29% stake in Deciem – maker of The Ordinary and NIOD skin care brands – and would increase this to a 76% majority stake in the first phase of its acquisition, set to close end of June 2021 and cost around €823m ($1bn) to reflect a total enterprise value of €1.81bn ($2.2bn). The Estée Lauder Companies would then purchase the remaining Deciem interests after a three-year period in a second-phase investment, the cost of which was yet to be determined.
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Research and Markets: France Cosmetics Market Report 2021: Skin care, Hair Care, Bath & Shower products, Makeup & Color Cosmetics, Fragrances & Deodorants - ResearchAndMarkets.com
ResearchAndMarkets.com s offering.
The France Cosmetics Market is poised to undergo significant growth during the next five years owing to the high purchasing power coupled with growing spending on the cosmetics personal care products.
International players foraying into organic cosmetics and increasing number of beauty clinics are aiding to the France Cosmetics Market. Moreover, increasing per capita expenditure on personal appearance and strong regulatory framework are some other key factors boosting the growth of the France Cosmetics Market.