Well this is a(n estimate $300 – $400 million) turn of events. In a major acquisition, French brand L’Oreal has bought LA indie company, Urban Decay.
Urban Decay, of course, is the 100% vegan brand famous for its refusal to test on animals (and has also been considered one of the hippest cosmetic brands by any of us who read Seventeen magazine growing up, or had friends with older sisters).
According to NY Daily News, L’Oreal Luxe President Nicolas Hieronimus says the acquisition will “beautifully complement” the group’s existing “brand portfolio,” but other than that, no other details have emerged.
Well, other than Urban Decay’s general manager Tim Warner, who had nothing but good things to say about it: “L’Oreal’s strong innovation capabilities and presence in every channel of distribution will enable Urban Decay to reach its full potential in the marketplace.”
Interesting. But what about the animal testing? Will Urban Decay be able to continue abiding by its ethos, or will it have to adapt to a bigger company’s way of practice? While L’Oreal does have animal testing in some of its sectors, it also donated $1.2 million to wipe it out, so maybe what we’re seeing is an evolution as well as an aquisition? Either way, this can only mean exciting things. (And hopefully lots of new lines.)