Unilever Signs Agreement To Acquire Luxury Cosmetics Brand Hourglass
Alan Jope, President Personal Care, Unilever, said, “We are delighted to be adding Hourglass to our portfolio of Prestige brands.
“The colour cosmetics category has been showing high growth-rates, driven by social media content, channel diversity and democratisation of professional makeup techniques, and it therefore presents a significant opportunity. Hourglass is already a successful brand in this space, offering fantastic make-up products that also deliver skin care benefits, and we look forward to continuing to grow this wonderful brand.”
The Hourglass name was founded in 2004 by Carisa Janes, and it is known for its innovation, luxe packaging and product experience.
Janes, the CEO of Hourglass, added, “As the first colour brand in Unilever’s Prestige portfolio, we are excited about this partnership as Hourglass continues to challenge the status quo with high performance luxury cosmetics. Unilever’s commitment to innovation and social responsibility is aspirational, and perfectly aligned with our vision for the future of Hourglass.”
The terms of the deal were not disclosed, however it is reported that the acquisition is expected to close in quarter three of 2017 - subject to regulatory approvals.
Unilever recently announced that it also signed an agreement to acquire the personal care and home brands of Quala.
Quala is a Latin American consumer goods company, known for its products such as Savital/Savilé (Haircare and Skin Cleansing), eGo (Male Haircare and Styling), Bio-Expert (Haircare), Fortident (Oral Care) and Aromatel (Fabric Conditioners).
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.