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Leveraging service to enhance shopping experience
Frustrated watching specialty stores, online merchants and department stores siphon off a market they once controlled more than 50% of, mass marketers are firing back.
(To view the full Category Review, click here.)
To regain their dominance of the $16 billion U.S. beauty market, chains such as Walgreens, Target, CVS and Walmart are burnishing their images. Among the moves they are taking are:
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Estee Lauder to buy millennial-fave beauty brand for $1.45B
NEW YORK -- Estee Lauder has agreed to buy California-based beauty company Too Faced for $1.45 billion, scooping up a brand that’s popular with millennials.
Too Faced products are sold at self-serve beauty retailers such as Sephora and Ulta Beauty and have a loyal following on social media.
The deal is the latest in a series of beauty mergers this year.
In October Coty acquired more than 40 of Procter & Gamble Co.’s beauty brands. And Revlon agreed to acquire Elizabeth Arden in June for about $419 million.