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Estee Lauder Buys Smashbox

Amidst watching a presentation by Eve Pearl yesterday at The Makeup Show, I glanced at my iPhone to see an email from WWD with the headline “Estee Lauder to Buy Smashbox Cosmetics”. I almost fell out of my chair.  The makeup company was recently rumored to be on the market with many potential buyers, so while I was caught off guard, the news was not a complete shock.  In fact, I figured the buyer would either be the King or Queen of Prestige Beauty –L’Oreal or Estee Lauder. Although considering L’Oreal purchased nail polish brand Essie last month, it seemed about right this bid would go to Lauder.

While the cost has not been disclosed, it has been estimated by sources Smashbox was sold for between $200-$300 Million. Phew!