Elemis Is the Fastest Selling Beauty Product Brand
As per the sources, Elemis, Luxury skin-care brand has tapped investment bank Jefferies Group to examine a sale of the business. The brand has too many followers in England.
“One of the drivers of the growth in color cosmetics was young millennials teaching their mothers about color cosmetics — mothers didn’t grow up in the age of YouTube, strobing and contouring,” stated Andrew Shore, a managing director at investment bank Moelis.
“Now, early adopters to color cosmetics are coming of age and their mothers are teaching them about skincare.”
The $5.6 billion skin-care industry last year grew 9 percent, as per the market researcher The NPD Group, while sales of makeup grew 6 percent.
Elemis differentiate itself from its niche competitors both by its big size and unique sales distribution.
In 2015, Elemis was obtained by L Catterton’s predecessor, Catterton, when the private equity firm acquired Elemis’ parent, Steiner Leisure, for $925 million, including debt.
A sale would be the latest in a string of deal activity in the industry. Colgate-Palmolive obtained professional skin-care brands PCA Skin and EltaMD last year, and Procter & Gamble acquired prestige skin-care label First Aid Beauty earlier this year.