Skincare, make-up and hair care giant Estée Lauder has signed an agreement to acquire the Hollywood skincare brand Glamglow, Professional Beauty said on December 23.
The acquisition was announced on December 19, but it not expected to be finalized until January 2015, the report said.
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Glamglow was founded in 2010 by Glenn and Shannon Dellimore as a prestige skincare brand, designed for men and women of all ages and skin types. It specializes in a range of mud-based facial masks, which offers a fast-acting treatment to leave the skin glowing and camera-ready, according to Professional Beauty.
Although the brand primarily dominates the Hollywood sets, it is now available in global specialty-multi channels and select high-end department stores, Zacks Equity research said.
The line has five masks, formulated with a patented Teaoxi leaf-steeping technology to brighten, hydrate, refine or clear the skin, Professional Beauty said.
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.”
Estée Lauder is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products that are sold in over 150 countries. The company has been consistently driving decent earnings backed by product innovation and strategic initiatives, Zacks said.