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L'Oreal to acquire NYX Cosmetics

India Blooms News Service | 19 Jun 2014, 09:22 pm
Clichy, June 19 (IBNS) Cosmetic major L'Oreal announced on Wednesday the signing of a definitive agreement to acquire NYX Cosmetics.

Headquartered in Los Angeles, NYX was created in 1999 by entrepreneur Toni Ko who had a vision for creating a line of high quality, on-trend professional color cosmetics at attractive prices.

Rooted in professional makeup artistry and driven by an impactful social media and grassroots marketing strategy, NYX has become one of the fastest growing color cosmetics brands in the United States, reaching an expanding segment of socially connected consumers.

In 2013, NYX reported net sales of 72 million US dollars, a growth of +46% vs 2012. Sales continued to record strong growth this year, amounting to 93 million US dollars for the last 12 months ended May 31, up 57% over the comparable year-over-year period.

NYX offers a broad catalogue of products that includes everyday basics, on-trend shades, special occasion makeup and cult favorites like the one of a kind The Curve eyeliner and Butter lip gloss line. The brand is currently distributed through professional beauty stores, specialty cosmetics stores, other retailers, ecommerce and some NYX branded stores.

“NYX is a dynamic company that has done a tremendous job of harnessing the power of social media, digital marketing and multi-channel distribution” said Frédéric Rozé, President and CEO of L’Oréal USA. “Both L’Oréal and NYX share a passion for innovation and a confidence in the strength and vitality of the color cosmetics market.”

NYX Cosmetics will continue to operate out of their Los Angeles headquarters under the brand’s current leadership team. The brand will become part of the Consumer Products Division of L’Oréal. This acquisition further enhances L’Oréal’s roster of American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay and Clarisonic.

"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," said Toni 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’Oréal’s extensive marketing, distribution and R&D resources.”

The closing is subject to the usual regulatory approvals and other customary conditions.

L'Oreal to acquire NYX Cosmetics

India Blooms News Service
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