Unilever is making its makeup debut with the acquisition of Hourglass Cosmetics.
Hourglass is best known for its complexion products, including its Ambient Lighting products, primer and formulations that marry active ingredients and makeup. The brand is sold in high-end distribution channels like Net-a-porter, Sephora, Space NK and Harrod’s, and industry sources said Hourglass has about $70 million in net sales and is growing in the double-digits. Terms of the deal were not disclosed, but industry sources estimated the company sold for between $250 million and $300 million. Industry sources indicated back in March that the brand hired Ohana to conduct a sale process.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)