Unilever announced that it has signed an agreement to acquire Hourglass, the luxury colour cosmetics brand.
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.”
Carisa Janes, CEO 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.”
Terms of the deal were not disclosed. The acquisition is expected to close in Q3 2017, subject to customary regulatory approvals.
Founded in 2004 by beauty industry veteran Carisa Janes, Hourglass is known for innovation, luxe packaging and exceptional product experience. The brand is acclaimed for its breakthrough formulations and technological innovation, including the use of active ingredients in complexion products. Hourglass’s distinctive offering has secured the brand a loyal following amongst consumers who look for high performance beauty products.