L’Oréal Acquires Urban Decay

L’Oréal (New York) has signed an agreement with Castanea Partners to acquire Urban Decay. The fashion forward makeup company was created in 1996 by Wende Zomnir, and has built a reputation around the idea of “beauty with an edge.”

Specialty makeup brands represent 44 percent of the luxury market in the U.S. and Urban Decay recorded net sales of $130 million in the fiscal year that ended June 2012.

“Urban Decay is the makeup specialist we needed to fully satisfy young women in search of playful colors and inspiration in selective distribution, at an accessible price point,” says Nicolas Hieronimus, president of L'Oréal Luxe. “It is totally additional to our existing propositions and as such it will contribute significantly to the growth of the Division in the years to come.”