A skincare line with ties to Houston is joining the ranks of other popular beauty brands this week. International beauty giant Shiseido Company Ltd. has announced that it is acquiring Drunk Elephant in a reported $845 million deal.
Houstonian Tiffany Masterson, chief creative officer, founded the company in Houston in 2012. The quality of products and playful branding attracted a broad range of demographics as the company experienced exponential growth.
"I started this business as an industry outsider, and from the beginning I did things a little differently," Masterson says in a news release. "To join with a powerhouse beauty company such as Shiseido that leads the industry in innovation and global excellence is a dream come true for me and for Drunk Elephant. We share similar values, most importantly an unwavering commitment to the consumer. I chose a partner who will let the brand continue to be itself, with the same formulations and the same team."
According to the release, the acquisition will allow Drunk Elephant's products to expand more throughout America, and enter new markets in Asian and Europe. The new subsidiary will also have support from Shiseido's Global Innovation Center and Digital Center of Excellence.
"This transaction is squarely aligned with Shiseido's VISION 2020 goal of accelerating growth and creating value through strategic partnerships," says Masahiko Uotani, president and CEO of Shiseido, in a news release. "I am very pleased to welcome Tiffany and the Drunk Elephant team to the Shiseido Family and together, pursue our long-term mission of 'Beauty innovations for a better world.'"
Masterson will maintain her role as chief creative officer and add the title of president for the company. She will report to Marc Rey, CEO of Shiseido Americas and chief growth officer of Shiseido.
"Drunk Elephant is built on a strong brand foundation and a unique philosophy that fits perfectly with Shiseido's values and skincare heritage," Rey says in the release. "Our innovative and people-first cultures are well aligned, and we share an unwavering commitment to our consumers. I also believe the brand will contribute to the business performance of Shiseido Americas."
The beauty industry is having a bit of a moment right now as consumers — who have shelves and shelves of products to choose from — are drawn to specific products.
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