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Lauder to Acquire Smashbox
Posted: May 18, 2010
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“The Estée Lauder Companies is the ideal home for Smashbox,” said Dean Factor, co-founder and chief executive officer, Smashbox Beauty Cosmetics, Inc. “The company possesses the scale and vision to help transition Smashbox into its next phase of growth, and its track record of nurturing and growing prestige brands is second to none. Moreover, we share a similar cultural heritage and dedication to consumer-inspired innovation and creativity. We expect to benefit greatly from The Estée Lauder Companies’ extensive knowledge in product development, operational execution, and international marketing and distribution, and we look forward to the next great period of growth for the brand.”
“Smashbox is the leading Hollywood photo studio-inspired cosmetics brand with a devoted following and timeless appeal,” said John Demsey, Estée Lauder Companies’ group president, responsible for the Estée Lauder, M•A•C, Tom Ford, Prescriptives, Bobbi Brown, Jo Malone, La Mer brands and after closing, Smashbox. “We are excited to be acquiring a uniquely positioned cosmetics brand with true talent well known for engaging consumers across prestige channels and in the digital media space. Smashbox fits perfectly within our DNA, and we look forward to continuing to delight our consumers together.”
The Estée Lauder Companies will collaborate with the Smashbox organization to develop a comprehensive integration plan to transition Smashbox into The Estée Lauder Companies’ family after closing. Dean Factor, co-founder and chief executive officer, Davis Factor, co-founder, chief creative office and celebrity photographer, and Budd Taylor, president, will each play key roles with respect to these activities and the continued success of Smashbox. Smashbox will continue operating out of its Los Angeles office.