Beauty Packaging Staff10.08.19
Prestige and Clean Beauty combined to make Drunk Elephant a skincare hit, priming it for acquisition by several leading global beauty companies. Now, Shiseido Americas Corporation, a subsidiary of Shiseido, has announced it has signed a definitive agreement to acquire Drunk Elephant.
The move will no doubt strengthen Shiseido’s leadership in the global prestige skincare market, experts say. The deal was reportedly struck for a reported $845 million, less than original estimates of $1 billion.
Drunk Elephant was founded in 2012 by Tiffany Masterson as a solutions-oriented, cross-generational brand for all skin types -- and has since experienced exponential growth across a full range of consumer demographics, including Gen Z and Millennials.
The brand's effective products, unique and playful brand voice, and strong community engagement have helped to build a loyal following, creating substantial room for further growth as it is introduced to more consumers around the world.
Masterson is expected to remain with the brand as president and chief creative officer.
Read Euromonitor’s comments on this high-profile purchase here.
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