Luxury Brand Partners Announce Sale of Popular Cosmetics Line
Luxury Brand Partners (LBP), a leading innovator in beauty, announced the sale of BECCA Cosmetics to The Estée Lauder Companies Inc. LBP has been the majority owner of BECCA Cosmetics since 2012.
Established in 2008 with the formation of Oribe Hair Care, LBP is currently the parent company to several additional beauty brands including, R+Co, V76 by Vaughn, Smith & Cult, IGK and Pulp Riot. LBP’s management team has a long history of building and overseeing iconic brands and leverages its knowledge of the beauty industry to create lines that meet the needs of the end consumer. LBP is proud of how BECCA Cosmetics has grown its offerings and developed into a cosmetic powerhouse, particularly in the complexion category.
“We have always believed in the broad appeal of BECCA Cosmetics, and this acquisition will help the brand continue to thrive,” says Tev Finger, President of Luxury Brand Partners. “I have so much respect for The Estée Lauder Companies—this is the perfect company to take BECCA to the next level, especially on a global scale.”
“I am profoundly proud of the BECCA team and very sad to see it leave our portfolio,” says Aselle Tasmagambetova, Director and Investor of Luxury Brand Partners. “At the same time, it’s a major moment for Luxury Brand Partners as we continue our business of building world-class brands.”
“It is with mixed feelings that the BECCA brand is leaving our portfolio. I am extremely proud of Bob DeBaker, Jim MacPherson and the entire BECCA team for the great job they have done with the brand and I look forward to watching them and The Estée Lauder Companies take it to the next level,” says Moss Kadey, Chairman of Luxury Brand Partners.