Oribe is said to have about $30 million in earnings before interest, taxes, depreciation and amortization.
This is a new market for Colgate, which owns Tom’s of Maine.
The alliance will further boost JD.com’s fashion appeal and will provide a counter to the Alibaba ecosystem.
Schmidt’s cofounders, Jaime Schmidt and Michael Cammarata, will remain involved in the business.
The four-year-old makeup brand has landed a deal with a private equity firm that has backed brands like Smashbox and It Cosmetics.
TSG has invested in Huda Beauty; Anastasia Beverly Hills is said to have hired Imperial Capital.
The four-year-old beauty brand has made waves — wooing more than just the influencer community — but investors, too.
If a deal were to come to fruition, the price tag could be in the billions, sources said.
The deal will create the world’s leading developer and operator of flagship shopping destinations, the companies said.