French cosmetics company L'Oréal has acquired American NYX Cosmectics, one of the world's fastest growing brands for make-up artists. It will become the 29th big brand in the French arsenal.
57 % growth in past 12 months
NYX Cosmetics, operating out of Los Angeles, was founded in 1999 by Toni Ko and has well-known products like eyeliner The Curve and 'Butter lip gloss'. It is unclear how much L'Oréal paid for the purchase.
The American company has been one of the fastest growing competitors in the "professional but affordable make-up" branch, with a 2013 turnover of 72 million dollars (over 53 million euro), a 43 % increase compared to 2012. Over the past 12 months (until the end of May), NYX Cosmetics managed a 93 million dollar turnover, a 57 % increase.
"NYX is a dynamic company that has done a tremendous job of harnessing the power of social media, digital marketing and multi-channel distribution. Both L'Oréal and NYX share a passion for innovation and a confidence in the strength and vitality of the color cosmetics market", Frédéric Rozé, CEO for L'Oréal USA, said.
Portfolio filled with big brands
NYX Cosmetics will become part of L'Oréal's Consumer Products Division, alongside brands like Maybelline NY, Kiehl's, Essie, Urban Decay and Clarisonic.
L'Oréal, founded 105 years ago in Paris, has become one of the world's largest beauty concerns and with a portfolio containing another 28 brands, it managed a 2013 turnover of 23 billion euro. It has 77,500 employees worldwide and is present in every aspect of retail: with own boutiques, convenience stores, pharmacies, supermarkets, department stores and even the travel branch.