- Forbes, Friday, January 15, 2010 10:42 AM
Japan's biggest cosmetics brand is buying San Francisco-based Bare Escentuals for $1.7 billion, Vivian Wai-yin Kwok reports.
Bare Escentuals makes mineral-based cosmetics that are
free of preservatives, talc, oil, fragrance and other harmful chemicals. About 85% of sales are in the U.S. through 800 retail outlets and 1,500 salons, as well as direct sales. CEO Leslie Blodgett
and COO Myles McCormick will continue to manage the brand, which will operate as a separate division of Shiseido.
The deal creates a global distribution network for Shiseido while
giving Bare Escentuals an opportunity to enter the Japanese market, the two companies say in a joint statement. "This acquisition further enables Shiseido to move towards our goal of becoming a global
player representing Asia with its origins in Japan," says Shiseido president and CEO Shinzo Maeda.
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