The company has signed an agreement to acquire the brand for $1.45 billion.
Reporter: Zynab Sandhu | Sub-Editor: Grace Brown
(Image from: instagram.com/toofaced)
Too Faced is one of the fastest growing makeup brands that is highly popular with millennials.
The beauty brand is expected to reach net sales of $270 million by the end of 2016. They’re known for their high quality cosmetics and innovation with product names and packaging. Too Faced have a huge following on social media, with just over 7.3 million followers on Instagram.
It is said that Too Faced will help The Estée Lauder Companies Inc. grow in selling online and with speciality stores.
The purchased is set to be completed by December 2016.