L’Oréal USA acquires Essie Cosmetics

Published: 22-Apr-2010

Colour Cosmetics Finance

Beauty giant aims to boost its share of booming nail colour market

L’Oréal USA is turning its attention to the nail colour and nail care sector with the acquisition of Essie Cosmetics. According to L’Oréal USA’s president and ceo, Frederic Roze the deal will “enable L’Oréal to increase its share in the nail colour and care market, which has seen significant growth year over year”.

Essie, whose nail colours, treatments, accessories, spa products and lip-glosses are sold mainly through spas and salons in the US, was founded in 1981 by Essie Weingarten and last year recorded net sales of $28m.

“This acquisition presents a tremendous opportunity to allow the Essie brand to grow even stronger,” comments Weingarten. Both Weingarten and Essie’s ceo, Max Sortino will continue to play a pivotal role in the brand’s future.

According to a recent report by Kline & Company, the nail polish market in the US grew 14.3% in 2009.