Saturday 21 June 2014

News: L’Oreal Lands NYX

So the rumours are true; L’Oreal will buy US makeup-artist brand NYX Cosmetics.

NYX, founded in 1999 by entrepreneur Toni Ko, is famous for producing high quality products that don't cost the earth. It's no surprise that L’Oreal want in - NYX is available in over 70 countries and has recently become one of the fastest-growing cosmetics companies in the US. Sales in the last 12 months have risen to $93,000,000 - a massive 57% percent increase over the comparable year-over-year period.

Toni Ko, founder and chairwoman of NYX, says "NYX has seen tremendous growth in the last decade and I have complete confidence that L'Oreal will remain true to its brand identity and mission".

Sadly, L’Oreal has not released the price it's paying for NYX, however I can imagine it is costing some seriously big bucks...

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