Cosmetics biggie L’Oreal just got a bit bigger, adding some 300 skincare and makeup products with its $1.2 billion acquisition of infomercial fave IT Cosmetics.
According to the announcement, IT Cosmetics — already sold through QVC, the Shopping Channel, and in Ulta and Sephora stores — will come under the umbrella of L’Oreal’s Lux division.
“The brand has earned the devotion of its highly engaged consumers and we see potential for significant growth in the years to come,” Frederic Roze, head of L’Oreal USA, said in the statement.
IT Cosmetics, which will continue to operate out of its New Jersey headquarters, launched in 2008 by one time Big Brother cast member Jamie Kern Lima and Paulo Lima, and co-owned by TSG Consumer Partners.
The company focuses primarily on color cosmetics, skincare, brushes and tools.
“IT Cosmetics will perfectly complement the L’Oréal Luxe’s brand portfolio to satisfy the rising demand for make-up as well as hybrid skincare,” Nicolas Hieronimus, President L’Oréal Selective Divisions, said in a statement.
by Ashlee Kieler via Consumerist
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