L'Oreal acquires NYX Cosmetics
L'Oreal has signed an agreement to acquire US-based make-up brand NYX Cosmetics from private equity firm HCP & Company for an undisclosed sum.
NYX is the latest in a line of professional acquisitions for the cosmetics giant, which bought spa skincare brands Decléor and Carita from Shiseido earlier this year and also owns salon nail brand Essie, cosmeutical line Skinceuticals and cleansing device Clarisonic.
NYX is a regular exhibitor at the Professional Beauty shows and is distributed through spas and salons as well as retailers, ecommerce and some NYX-branded stores.
L'Oreal said NYX had sales of $93million (£54.6m) in the year to the end of May 2014, a like-for-like rise of 57% on the previous year.
L’Oréal USA President and CEO Frédéric Rozé said, “NYX is a dynamic company that has done a tremendous job of harnessing the power of social media, digital marketing and multi-channel distribution. Both L’Oréal and NYX share a passion for innovation and a confidence in the strength and vitality of the colour cosmetics market.”
NYX Cosmetics will continue to operate from its Los Angeles, US, headquarters under the existing management team.
NYX Cosmetics founder and chairwoman Toni Ko said: "We possess a shared commitment to creating best in class products and the NYX consumer stands to benefit enormously from L’Oréal’s extensive marketing, distribution and R&D resources.”