Earlier this year, Mintel's Sara Jindal wrote, "As multicultural beauty becomes more mainstream, approaches and brand strategies must evolve in parallel. There is a huge amount of opportunity available for both big and small brands to differentiate and innovate in response ... "
She added, "Expanding shade ranges for existing product lines is an important and incremental approach to gaining visibility within the multicultural community. In addition, representing a wider range of skin tones and ethnicities in advertising and marketing can help brands to maintain relevancy in a changing cultural landscape."
So it isn't entirely surprising that The Estée Lauder Companies is acquiring BECCA Cosmetics. Terms of the deal, which will close in November, were not disclosed. (Keep up on the latest M&A in beauty by reading "The State of Beauty and Personal Care M&A.")
The brand will be overseen by John Demsey.
"We see terrific growth opportunities for BECCA..."
Estée Lauder is specifically focused on BECCA's offerings of primers, concealers, foundations, blushes and highlighters for a wide range of complexions and skin tones. As an official release notes, "Most of the brand’s foundations are available in up to 20 shades, with half designed for medium to deep tones and half designed for light to medium tones."
The brand also offers a range of products with specific effects, like a soft-focused halo, including the Shimmering Skin Perfector Pressed in Champagne Pop.
BECCA also has more than 1 million Instagram followers.
"We believe that beauty products should reflect a diverse range of skin tones and help all women create a naturally beautiful, yet individual look..."
“BECCA Cosmetics is a wonderful addition to our portfolio of prestige beauty brands,” said Fabrizio Freda, president and CEO of The Estée Lauder Companies Inc. “Its unique focus on complexion products that flatter a wide range of skin tones, combined with its sophisticated yet accessible consumer and digital engagement across channels has inspired a devoted fan base. We see terrific growth opportunities for BECCA as it expands globally and continues to cultivate its online and digital expertise. We are excited to work with Bob, Jim, and the entire BECCA team to continue building on the brand’s terrific success.”
“The Estée Lauder Companies is the perfect company to take BECCA to the next level, especially on a global scale."
“The Estée Lauder Companies is the ideal home for BECCA,” said Bob DeBaker, president and CEO of BECCA Cosmetics. “The company has the scale and vision to help elevate BECCA to its next phase of growth while encouraging us to continue to build our unique brand equity. We believe that beauty products should reflect a diverse range of skin tones and help all women create a naturally beautiful, yet individual look – and ELC is incredibly supportive of our mission. We’re thrilled to be joining the team.”
“The BECCA philosophy of inclusive beauty is a terrific match for The Estée Lauder Companies,” said William P. Lauder, executive chairman, The Estée Lauder Companies Inc. “One of our leading strengths is the ability to identify brands with unique positioning and nurture them to realize their full growth potential. We are so pleased to partner with Bob and Jim to continue this legacy, and we welcome them and their team to our family.”
“The Estée Lauder Companies is the perfect company to take BECCA to the next level, especially on a global scale. I have so much respect for The Estée Lauder Companies, making this the perfect fit,” said Tevya Finger, president and CEO of Luxury Brand Partners.