L’Oréal Acquires Ownership of Urban Decay
Posted Monday November 26, 2012 4:52 PM GMT
Making a massive end-of-year purchase, L’Oréal is now the proud owner of Urban Decay cosmetics.
According to WWD, L’Oréal Luxe president Nicolas Hieronimus explained that the acquisition was the next logical step in his company’s evolution.
“Urban Decay will beautifully complement L’Oréal Luxe’s portfolio of iconic brands. It is the makeup specialist we needed to fully satisfy young women in search of playful colors and inspiration in selective distribution, at an accessible price point. It is totally additional to our existing propositions and as such it will contribute significantly to the growth of the division in the years to come.”
It sounds like feeling is mutual—Urban Decay general manager Tim Warner added, “L’Oréal’s strong innovation capabilities and presence in every channel of distribution will enable Urban Decay to reach its full potential in the marketplace. Together, we have great ambitions for the future.”
Photo Credit: Urban Decay