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The multinational company Shiseido announced on Tuesday, October 1, 2019, the acquisition of the American company Drunk Elephant for 845 million dollars or about 770 million euros. A long battle took place between Estée Lauder Companies, Unilever and Shiseido to acquire the high-end cosmetics brand.
By Luxus Plus
According to a press release from the Shiseido Group, the acquisition of Drunk Elephant will allow them to expand their presence in the US market by reaching a younger population, the “millenials” as well as the “Z generation”. Indeed, Drunk Elephant is a recent brand, created in 2012 by Tiffany Masterson. Present on social networks, the company continues to grow. Drunk Elephant also addresses ethical issues by positioning itself in the “clean” cosmetics sector (supposed to be free of harmful ingredients).
According to a forecast by the multinational company Shiseido, Drunk Elephant is expected to achieve a turnover of $125 million this year, an increase of 67% compared to the previous year.
The multinational company Shiseido, for its part, achieved a turnover of around €9.3 billion in 2018, with sales in China and travel retail (sales in transport areas, particularly airports).
