Supplier News Breaks Archives
L'Oreal to acquire NYX Cosmetics
June 18th, 2014
PARIS – L'Oreal has signed an agreement to acquire Los Angeles-based NYX Cosmetics.
Financial terms of the acquisition deal weren't disclosed. L'Oreal said Wednesday that the brand will become part of its consumer products division of L'Oréal.
The company noted that the acquisition adds to its roster of American brands, which include Maybelline New York, Kiehl's, Essie, Urban Decay and Clarisonic.
"NYX is a dynamic company that has done a tremendous job of harnessing the power of social media, digital marketing and multichannel distribution," stated Frederic Roze, president and chief executive officer of L'Oreal USA. "Both L'Oreal and NYX share a passion for innovation and a confidence in the strength and vitality of the color cosmetics market."
Plans call for NYX Cosmetics to continue to operate out of its Los Angeles headquarters under its current leadership team.
NYX offers a range of products that include everyday basics, on-trend shades, special occasion makeup and cult favorites such as The Curve eyeliner and Butter lip gloss line, according to L'Oreal. NYX is currently distributed through professional beauty stores, specialty cosmetics stores, other retailers, e-commerce and some NYX-branded stores.
Founded in 1999 by Toni Ko, NYX has become one of the fastest-growing color cosmetics brands in the United States, L'Oreal said. In 2013, NYX reported net sales of $72 million, up 46% from 2012, and over the 12 months ended May 31 sales totaled $93 million, up 57% versus the prior-year period.
"NYX has seen tremendous growth in the last decade, and I have complete confidence that L'Oreal will remain true to its brand identity and mission, which is to provide high-quality, innovative professional cosmetics for women around the world," commented Ko, chairwoman and founder of NYX Cosmetics. "We possess a shared commitment to creating best-in-class products, and the NYX consumer stands to benefit enormously from L'Oreal's extensive marketing, distribution and R&D resources."