|Photo from urbadecay.com|
Our beloved makeup brand Urban Decay, from Newport Beach, CA, is being acquired by giant L'Oreal Luxe group. UD will join the L'Oreal group portfolio of cosmetic brands, which includes L'oreal Paris, Maybelline, Garnier, Lancôme, Shu Uemura, Kiehl's, Giorgi Armani, YSL Beauté, among many others), as reported by WWD. The amount of the transaction has not been revealed and the acquisition still awaits regulatory approval, which should happened by the end of 2012.
In addition to the great results in 2012 with recorded net sales of US$ 130 million, the L'Oreal group was attracted to UD for its amazing colored eyeshadows and eyeliners.