L’Oréal announced the signing of a definitive agreement to acquire US colour cosmetics brand NYX Cosmetics.
Headquartered in Los Angeles, NYX was created in 1999 by Toni Ko who had a vision for creating a line of high quality, on-trend professional colour cosmetics at attractive prices. “Rooted in professional makeup artistry and driven by a social media and grassroots marketing strategy, NYX has become one of the fastest growing colour cosmetics brands in the United States, reaching an expanding segment of socially connected consumers,” said L’Oréal in a release.
In 2013, NYX reported net sales of 72 million US dollars, a growth of +46% vs 2012. Sales continued to record strong growth this year, amounting to 93 million US dollars for the last 12 months ended May 31, up 57% over the comparable year-over-year period.
The brand is currently distributed through professional beauty stores, specialty cosmetics stores, other retailers, ecommerce and some NYX branded stores.
NYX Cosmetics will continue to operate out of their Los Angeles headquarters under the brand’s current leadership team. The brand will become part of the Consumer Products Division of L’Oréal. This acquisition further enhances L’Oréal’s roster of American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay and Clarisonic.