It Cosmetics, known for its ads about the cult-favorite Bye Bye Foundation, just joined the big leagues: L'Oréal has bought the beauty company for $1.2 billion. It will be added to the megacompany's luxe sector.
For the last year, It Cosmetics posted $182 million in sales, up 56 percent from the previous year. This sale will in theory spur growth for both It Cosmetics and L'Oréal. Though It is in the luxe department, no word yet on whether it will continue to be sold at QVC and Ulta.
It was surprisingly founded by former news anchor and one-time Baywatch guest star Jamie Kern Lima in 2008. She was looking for a healthier makeup that would cover her skin. "I have hereditary rosacea and hyperpigmentation," Lima told ABC News. "There is no cure for it, and every product I would find either wouldn't cover or products are so thick, they crease, they crack, they make you look older."
She developed the It Cosmetics line with the help of plastic surgeons and dermatologists. And reviews for the most part are pretty positive, though the lack of color range has annoyed some users. We're huge fans of the undereye concealer. It doesn't cake or crease like other cover-ups. Which makes it ideal to wear on steamy-hot days like today.
Seems like the beauty world scored a win-win.
h/t: Marketwatch
