THE WHAT? The Estee Lauder Companies-owned Becca Cosmetics has announced that it will cease to trade from September this year.
THE DETAILS Lauder purchased the brand for an undisclosed sum back in 2016 but the purchase price was widely thought to be above and beyond the US$200 million price tag sought by Becca. Lauder has yet to comment on the brand’s closure.
THE WHY? The brand posted an announcement on its website attributing the closure to the global pandemic. “At Becca, an accumulation of challenges, together with the global impact of COVID-19, has sadly been more than our business can withstand, and we have had to make the heart-breaking decision to close down the Becca brand at the end of September 2021.”