Posts Tagged ‘Bare Minerals’

L’Oreal Buying QVC Vendor IT Cosmetics For $1.2 Billion

July 24, 2016

One of QVC’s popular makeup vendors, IT Cosmetics, is being purchased by L’Oreal for $1.2 billion, the French company said Friday.

Let’s hope this doesn’t mean a decline in the the up-and-coming makeup line, which according to Bloomberg News is based in our home state, in Jersey City.

http://www.bloomberg.com/news/articles/2016-07-22/l-oreal-agrees-to-acquire-it-cosmetics-for-1-2-billion-in-cash

Prior popular lines on QVC, such as Bare Minerals and Philosophy, were later sold by their female-entrepreneur owners to giant corporations, leading customers to complain that the products’ quality declined subsequently.

According to The Wall Street Journal, IT Cosmetics had net sales of $182 million for the fiscal year ended June 30, a 56 percent jump over the prior year.

Here is the press release on the sale.

http://www.lorealusa.com/media/press-releases/2016/jul/it-cosmetics

Clichy, New York – 22 July 2016 – L’Oréal announced today the signing of a definitive agreement to acquire IT Cosmetics, one of the fastest growing prestige beauty brands in the United States for a cash purchase price of 1.2 billion US dollars.

Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons to provide women with innovative, problem-solving skincare and makeup products that empower them to feel confident and beautiful.

IT Cosmetics offers more than 300 high-performance beauty products focusing on color cosmetics, skincare, brushes and tools. IT Cosmetics’ multi-channel distribution model includes select television shopping channels including QVC and TSC, specialty stores including ULTA and Sephora, and the brand’s website. For the 12 months ending June, 2016, IT Cosmetics had net sales of 182 million US dollars, up by 56%.

“IT Cosmetics shares L’Oréal’s passion for product innovation and our belief that offering beauty for all is a deeply purposeful mission,” said Frédéric Rozé, President and CEO of L’Oréal USA. “The brand has earned the devotion of its highly engaged consumers and we see potential for significant growth in the years to come.”

IT Cosmetics will become part of the Luxe Division of L’Oréal.

“IT Cosmetics will perfectly complement the L’Oréal Luxe’s brand portfolio to satisfy the rising demand for make-up as well as hybrid skincare. We are happy to welcome IT Cosmetics to the L’Oréal dream team which includes other great beauty brands such as Lancôme, Kiehl’s, Yves Saint Laurent, Armani and Urban Decay,” said Nicolas Hieronimus, President L’Oréal Selective Divisions.

The brand will continue to operate out of its Jersey City, New Jersey headquarters under the current leadership team.

“At IT Cosmetics our mission is to make the world more beautiful through our products, through our actions and through our belief that every woman is beautiful and deserves to feel her most beautiful,” said Jamie Kern Lima, Co-Founder & CEO, IT Cosmetics.

“Our makeup and skincare products are not only game-changing in their innovation, they are also life-changing for real women everywhere. Partnering with L’Oréal and utilizing the power of their global infrastructure will help us scale our mission in an even bigger way and we couldn’t be more excited.”

The closing is subject to the standard regulatory approvals and other customary conditions.

Advertisements

Bare Minerals Creator/QVC Vendor Leslie Blodgett Uses The F-Word

August 17, 2012

Imagine our surprise when we saw Leslie Blodgett, creator of Bare Escentuals mineral makeup and a QVC vendor, staring up at us from a full page ad in The New York Times Thursday.

“I’ve never liked using the F-word,” the provocative headline said. Do tell, Leslie.

But it wasn’t what we thought. The F-word she was talking about was “foundation,” which the doe-eyed Blodgett described as “cakey” and “pore-clogging.”

Leslie Blodgett New York Times ad

“Now, do you want to know why I’ve always been obsessed with natural-looking skin?” she asked in the ad. “Back in the 80’s when I was living in Manhattan, I was on a first date and the guy tells me he can see my ‘face makeup.’ Seriously, he said that. I was humiliated. And I would never want anyone to hear those words.”

Sounds like some of the cornholes we’ve dated, Leslie.

This was all a lead-in for her to announce that her Bare Minerals line was introducing Ready SPF20 Foundation. It is in a compact, looking like powder.

“It’s creamy, it’s hydrating … You’ll be getting compliments on your skin (not your makeup),” she said.

It launches Sept. 1, and but we think QVC has already had it.

In the ad, Blodgett also said that the first 100 people to email her Thursday would receive her new retractable precision face brush. But we think we’re a little late on that one, girls.

Mineral Makeup Pioneer On QVC Leslie Blodgett Is Profiled By The Times

June 13, 2011

Leslie Blodgett, one of QVC host Lisa Robertson’s BFFs and the head of the Bare Escentual’s makeup line, had a huge write-up in The Sunday New York Times today.

The story, headlined “Move Over, Estee Lauder,” ran in the Sunday Styles section of the paper.

http://www.nytimes.com/2011/06/12/fashion/leslie-blodgett-of-bare-escentuals-the-queen-of-beauty.html?_r=1&scp=1&sq=leslie%20blodgett&st=cse

The story credits Blodgett with creating a revolution in cosmetics with her mineral-powder makeup. A lot of the story is about Blodgett’s partnership with QVC. We are also told tidbits like the fact that Blodgett’s stay-at-home husband bought her an early 20th anniversary ring — a huge diamond surrounded by sapphires and emeralds — from Tiffany.

“On QVC, Ms. Blodgett’s appearances have the trance-inducing sensuality of a Dionysian ritual,” The Times wrote.

We are also told that Blodgett, who last year sold her company to Shiseido for $1 billion, last summer “rolled across the East Coast,” in Lady Gaga’s tour bus no less, as part of a 10-city tour to preach the gospel of Bare Escentuals, or Bare Minerals, whichever name you prefer, according to The Times.

There is also a quote from Robertson, who the Times inexplicably described as a “Loretta Young lookalike,” in the story.

“I would never have tried the stuff [Bare Minerals} if it weren’t part of my job,” Robertson sold The Times. “I wore full-on hard-core liquid foundation, like everybody else, my whole life. I thought: ‘Minerals? What? Don’t even go there.’ The first tine I tried it, I didn’t think it was working. I wondered, Emperor’s New Clothes?”

Eventually, Robinson swallowed the Kool Aid.

There are other tasty QVC info, like the fact that Blodgett sometimes sells $1.4 million of product an hour on QVC.

All in all, the profile is worth a read.