California-Based Skin Care Brand Developed for Backstage and the Red Carpet Offers Innovative, Transformative Treatment Masks For Radiant, Glowing Skin
NEW YORK. - Saturday, December 20th 2014 [ME NewsWire]
(BUSINESS WIRE) The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has signed an agreement to acquire GLAMGLOW, the Hollywood skin care brand focused on fast-acting treatment masks designed to deliver stunning, camera-ready results. Terms of the deal were not disclosed. The acquisition is expected to close in January 2015.
Founded in 2010 by Glenn and Shannon Dellimore, GLAMGLOW is a global multi-award winning, Hollywood-inspired prestige skin care brand, designed for men & women of all ages and all skin types, offering an exclusive collection of high-end treatment masks that help give skin a gorgeous, spotlight-ready glow. Originally known as “Hollywood’s Boutique Secret” for its ubiquity on Hollywood sets, GLAMGLOW now has a robust presence in global specialty-multi channels, including Sephora and Douglas, and in select high-end department stores, such as Neiman Marcus, Selfridges, Harvey Nichols, Bloomingdale’s and, starting in January 2015, Nordstrom.
“GLAMGLOW represents the ultimate in innovative facial masks,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies. “Glenn and Shannon’s vision – to create easy-to-use, effective products for camera-ready skin – has grown into an incredible success. GLAMGLOW is a top performer in specialty channels and effectively engages its devoted fans across digital platforms. Its unique focus on facial masks strategically complements our current prestige skin care offerings, and we are thrilled to welcome Glenn and Shannon to our Company.”
“The Estée Lauder Companies embraces our brand philosophy that skin care can be sexy, innovative and fun,” said GLAMGLOW Co-Founders Glenn and Shannon Dellimore. “The Company has the scale and vision to help bring the brand to its next phase of growth while remaining true to the identity that we’ve worked so hard to build. Having personally grown our brand every step of the way, we could not imagine a better home for GLAMGLOW.”
The current GLAMGLOW line includes five easy-to-use mud-based facial skin mask products, formulated with a patented TEAOXI® leaf-steeping technology, to effectively brighten, hydrate, refine or clear the skin. Each mask is specifically designed to address a specific skin care concern: the original GLAMGLOW product, YOUTHMUD®, exfoliates for anti-aging effects, while SUPERMUD® is a clearing treatment formulated for problem skin. THIRSTYMUDTM hydrates and POWERMUDTM deep cleanses, while BRIGHTMUD® eye treatment visibly plumps and brightens the under eye area. In January 2015, GLAMGLOW will launch a new range of ‘mud to foam’ daily cleansers. Additionally, GLAMGLOW offers various limited edition products and gift sets.
William P. Lauder, Executive Chairman of The Estée Lauder Companies, said: “Glenn and Shannon have built a highly successful, sought-after skin care brand with a uniquely Hollywood point of view. The Estée Lauder Companies embraces their entrepreneurial spirit and vision, and is committed to sustainably growing the brand while fostering the uniquely glamorous skin care story that they’ve created. We are so pleased to welcome them to our family.”
The brand will be overseen by John Demsey, The Estée Lauder Companies Group President, responsible for Estée Lauder, M·A·C, Tom Ford, Prescriptives, Bobbi Brown, Bumble and bumble, Jo Malone London, La Mer, Smashbox, Aramis & Designer Fragrance brands, Le Labo, and RODIN olio lusso.
The Estée Lauder Companies Inc. received financial advice from Moelis & Company LLC and legal counsel from Lowenstein Sandler LLP. GLAMGLOW received financial advice from The Sage Group and legal counsel from Skadden, Arps, Slate, Meagher and Flom LLP.
The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expectations for the acquired brand and the benefits of the acquisition, involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the satisfaction of closing conditions, the Company's ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company's annual report on Form 10-K for the year ended June 30, 2014.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone London, Bumble and bumble, Darphin, Michael Kors, Flirt!, GoodSkin Labs, Tom Ford, Coach, Ojon, Smashbox, Ermenegildo Zegna, Aerin Beauty, Osiao, Marni, Tory Burch, RODIN olio lusso and Le Labo.
Dennis D’Andrea, 212-572-4384
Alexandra Trower, 212-572-4430