Financial Advisor to the Shareholders of IT Cosmetics on Sale to L’Oréal
IT Cosmetics, one of the fastest growing prestige beauty brands in the United States, hired Financo to facilitate a sale to L’Oréal for $1.2 billion. As the largest acquisition since its $1.7 billion acquisition of YSL Beaute in 2008, L’Oréal will look to IT Cosmetics, now a part of its Luxe Division, to help spur growth globally.
IT Cosmetics was founded in 2008 by Jamie Kern Lima and her husband, who started by selling makeup out of their California apartment. The business worked with plastic surgeons to develop its cosmetics, aiming the products at women worried about skin problems. IT sells through QVC and the Shopping Channel, as well as retailers such as Ulta and Sephora.
“IT Cosmetics has earned the devotion of its highly engaged consumers and we see potential for significant growth in the years to come”
– Frédéric Rozé, Head of L’Oréal U.S.A.