PARIS — L’Oréal has finalized the acquisition of skin-care brands CeraVe, AcneFree and Ambi from Valeant Pharmaceuticals International Inc., the French beauty giant said on Monday.In a move to bolster its U.S. business in the dynamic active cosmetics segment, L’Oréal announced in January that it had signed a definitive agreement with Valeant to purchase the trio of brands for $1.3 billion in cash.CeraVe, AcneFree and Ambi – with their respective focus on dry skin, acne, and dark spots and brightening – generate yearly revenue of about $168 million combined and put L’Oréal head-to-head with Nestlé’s blockbuster Cetaphil brand.CeraVe, founded in 2005, was developed with dermatologists. It comprises a line of skin-care products, including cleansers, moisturizers, sunscreens, healing ointments and a range for babies, with medium retail price points between $7 to $22, and estimated annual sales of $140 million, according to J.P. Morgan Cazenove.L’Oréal considers CeraVe to be among the fastest-growing skin-care brands in the U.S., with average gains over the past two years of more than 20 percent.AcneFree, with medium product prices ranging from $6 to $33, markets and distributes a collection of over-the-counter cleansers and acne treatments in the country, while Ambi, at $6 to $13, includes skin care created for multicultural consumers.The three product ranges are distributed in U.S. drugstores, mass-market and beauty retailers, plus via select online outlets.Mergers-and-acquisitions activity in the beauty space, which was rife in 2016, keeps percolating this year, with purchase prices on the rise. L’Oréal paid 7.7-times sales for the three U.S. skin-care labels, which is a higher multiple than the 6.1-times sales it offered to buy IT Cosmetics – for $1.2 billion – last year. The Estée Lauder Cos., meantime, paid a 5.5-times multiple when it shelled out $1.45 billion for Too Faced.Dermocosmetics brands are a hot commodity today and make up one of the fastest-growing categories in beauty, spurred largely by Millennials. Such labels not only benefit from their treatment solutions but also from how they are positioned – promoted not for their cosmetics benefits but for skin health.L’Oréal had been acquisitive throughout 2016. Beside IT Cosmetics, the company in July also said that it had made an offer to buy Société des Thermes de Saint-Gervais-les-Bains and the license to use the Saint-Gervais Mont-Blanc beauty brand. In June, L’Oréal signed an agreement to purchase Atelier Cologne.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)