Shiseido Co Ltd said Nov. 7 that it completed its buy of Drunk Elephant, a prestige skincare brand. Financial terms weren’t announced. The sale was announced in October. Press reports pegged the deal at $845 million.
PRESS RELEASE
Shiseido Completes Acquisition of DRUNK ELEPHANT™
Welcomes Innovative, Rapidly-Growing Prestige Skincare Favorite to
Shiseido’s Global Portfolio
Strengthens Shiseido’s Leadership in the Global Prestige Skincare Market
TOKYO – November 7th, 2019; NEW YORK – November 7th, 2019 – Shiseido Company, Limited (Tokyo Stock Exchange, First Section: 4911) (“Shiseido”) today announced that Shiseido Americas Corporation (“Shiseido Americas”), a subsidiary of Shiseido, has completed its acquisition of DRUNK ELEPHANT™ (“Drunk Elephant”), a leading and fast-growing prestige skincare brand and a recognized expert in developing clean-compatible and effective products.
“Today marks an exciting moment for Shiseido and we are thrilled to welcome Drunk Elephant to the Shiseido family,” said Marc Rey, CEO, Shiseido Americas and Chief Growth Officer of Shiseido. “Drunk Elephant’s strong brand foundation and unique philosophy fit perfectly with Shiseido’s values and skincare heritage. We are confident that we will be able to further strengthen and support Drunk Elephant on its ongoing growth trajectory, expanding the brand into new and existing markets both in the Americas and internationally. We look forward to capitalizing on the significant opportunities ahead.”
ABOUT SHISEIDO COMPANY, LIMITED
Shiseido was founded in 1872 as the first Western-style pharmacy in Japan. The business gradually evolved into a cosmetics company, offering people the most advanced technology and the finest aesthetics available in the East or the West. Now known globally as the premier cosmetics company with roots in Japan, the name Shiseido has come to represent the world’s highest standards of quality. Shiseido’s global selection of skincare, makeup and fragrance includes a high-performance category for special skincare, and a brightening line. Shiseido also offers body care, suncare and a skincare line for men. Fiercely contemporary and innovative after nearly 150 years in business, Shiseido group brands are now sold in over 120 countries and regions. For more information, please visit www.shiseidogroup.com
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