In Brief: L’Oreal Acquires IT Cosmetics, Provides Microbeads Update; More
This article was originally published in The Rose Sheet
L’Oreal adds IT Cosmetics to its thriving Luxe business for $1.2bn in cash. Unilever offers perspective on its Dollar Shave Club acquisition during its Q1 earnings call.
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French beauty giant books luxury division sales growth of 8.9% to $2.35bn in its third quarter, and 13.2% growth to $7.16bn for the nine months ended Sept. 30. Increased consumption of luxury skin care and makeup in China has been a key driver of the firm's results in fiscal 2017, according to L'Oreal execs.
The CeraVe, AcneFree and Ambi skin-care lines will change hands from Valeant Pharmaceuticals to L’Oreal under a deal announced Jan. 10, beefing up the latter’s dermatologist-aligned Active Cosmetics division.
The enterprise-value growth rate of beauty and personal-care players that completed two or more acquisitions annually during the 2010-2016 period is 26% higher than that for less frequent buyers, the consulting firm notes in a recent report. Translation: “Shop or Drop,” its analysts say.