TOKYO — After months of speculation, Shiseido announced Tuesday that it has signed a deal to amass a one hundred pc stake in “clean beauty” brand Drunk Elephant, in a transaction valued at roughly $845 million. The move is the newest step within the Japanese beauty company’s push to develop into a much bigger player with a more global footprint.
Founded in 2012 by Tiffany Masterson and launched in August 2013, Drunk Elephant helped to pioneer the clean beauty movement. It saw exponential sales growth, with estimates putting its net sales for 2018 near $100 million. It has attracted customers representing a big selection of demographics, but is particularly popular amongst Millennials and Gen Z.
“Drunk Elephant will give you the option...
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