THE WHAT? Unilever, L’Oréal, and Estee Lauder Companies are among the suitors said to be looking to buy celebrity make-up brand Charlotte Tilbury, according to a report by Bloomberg.
THE DETAILS Charlotte Tilbury has been touting an acquisition for some time, with offers also rumoured to have been made by Shiseido and Puig, as well as private investment firms. The deal is said to be worth approximately $1.24 billion.
Said to be working with advisors from Goldman Sachs and Jefferies Financial Group, the company could be on track to choose a successful bidder as early as May.
THE WHY? The sale comes as larger companies continue to snap up smaller independents in a bid to stay relevant with Gen Z and millennial audiences, as brands such as Charlotte Tilbury and Drunk Elephant gain in popularity.