California-Based Skin Care Brand Developed for Backstage and the
Red Carpet Offers Innovative, Transformative Treatment Masks For
Radiant, Glowing Skin
NEW YORK--(BUSINESS WIRE)--Dec. 19, 2014--
The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has
signed an agreement to acquire GLAMGLOW, the Hollywood skin care brand
focused on fast-acting treatment masks designed to deliver stunning,
camera-ready results. Terms of the deal were not disclosed. The
acquisition is expected to close in January 2015.
Founded in 2010 by Glenn and Shannon Dellimore, GLAMGLOW is a global
multi-award winning, Hollywood-inspired prestige skin care brand,
designed for men & women of all ages and all skin types, offering an
exclusive collection of high-end treatment masks that help give skin a
gorgeous, spotlight-ready glow. Originally known as “Hollywood’s
Boutique Secret” for its ubiquity on Hollywood sets, GLAMGLOW now has a
robust presence in global specialty-multi channels, including Sephora
and Douglas, and in select high-end department stores, such as Neiman
Marcus, Selfridges, Harvey Nichols, Bloomingdale’s and, starting in
January 2015, Nordstrom.
“GLAMGLOW represents the ultimate in innovative facial masks,” said
Fabrizio Freda, President and Chief Executive Officer of The Estée
Lauder Companies. “Glenn and Shannon’s vision – to create easy-to-use,
effective products for camera-ready skin – has grown into an incredible
success. GLAMGLOW is a top performer in specialty channels and
effectively engages its devoted fans across digital platforms. Its
unique focus on facial masks strategically complements our current
prestige skin care offerings, and we are thrilled to welcome Glenn and
Shannon to our Company.”
“The Estée Lauder Companies embraces our brand philosophy that skin care
can be sexy, innovative and fun,” said GLAMGLOW Co-Founders Glenn and
Shannon Dellimore. “The Company has the scale and vision to help bring
the brand to its next phase of growth while remaining true to the
identity that we’ve worked so hard to build. Having personally grown our
brand every step of the way, we could not imagine a better home for
GLAMGLOW.”
The current GLAMGLOW line includes five easy-to-use mud-based facial
skin mask products, formulated with a patented TEAOXI® leaf-steeping
technology, to effectively brighten, hydrate, refine or clear the skin.
Each mask is specifically designed to address a specific skin care
concern: the original GLAMGLOW product, YOUTHMUD®, exfoliates for
anti-aging effects, while SUPERMUD® is a clearing treatment formulated
for problem skin. THIRSTYMUDTM hydrates and POWERMUDTM
deep cleanses, while BRIGHTMUD® eye treatment visibly plumps and
brightens the under eye area. In January 2015, GLAMGLOW will launch a
new range of ‘mud to foam’ daily cleansers. Additionally, GLAMGLOW
offers various limited edition products and gift sets.
William P. Lauder, Executive Chairman of The Estée Lauder Companies,
said: “Glenn and Shannon have built a highly successful, sought-after
skin care brand with a uniquely Hollywood point of view. The Estée
Lauder Companies embraces their entrepreneurial spirit and vision, and
is committed to sustainably growing the brand while fostering the
uniquely glamorous skin care story that they’ve created. We are so
pleased to welcome them to our family.”
The brand will be overseen by John Demsey, The Estée Lauder Companies
Group President, responsible for Estée Lauder, M·A·C, Tom Ford,
Prescriptives, Bobbi Brown, Bumble and bumble, Jo Malone London, La Mer,
Smashbox, Aramis & Designer Fragrance brands, Le Labo, and RODIN olio
lusso.
The Estée Lauder Companies Inc. received financial advice from Moelis &
Company LLC and legal counsel from Lowenstein Sandler LLP. GLAMGLOW
received financial advice from The Sage Group and legal counsel from
Skadden, Arps, Slate, Meagher and Flom LLP.
The forward-looking statements in this press release, including those in
the quoted remarks and those relating to the expectations for the
acquired brand and the benefits of the acquisition, involve risks and
uncertainties. Factors that could cause actual results to differ
materially from those forward-looking statements include current
economic and other conditions in the global marketplace, actions by
retailers, suppliers and consumers, competition, the satisfaction of
closing conditions, the Company's ability to successfully integrate the
acquired business and/or implement its long-term strategic plan, and
those described in the Company's annual report on Form 10-K for the year
ended June 30, 2014.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading
manufacturers and marketers of quality skin care, makeup, fragrance and
hair care products. The Company’s products are sold in over 150
countries and territories under the following brand names: Estée Lauder,
Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi
Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone
London, Bumble and bumble, Darphin, Michael Kors, Flirt!,
GoodSkin Labs, Tom Ford, Coach, Ojon, Smashbox, Ermenegildo Zegna, Aerin
Beauty, Osiao, Marni, Tory Burch, RODIN olio lusso and Le Labo.
Source: The Estée Lauder Companies Inc.
Investor Relations:
Dennis D’Andrea, 212-572-4384
or
Media
Relations:
Alexandra Trower, 212-572-4430
