L’Oreal Signs Agreement to Acquire NYX Cosmetics
Last week rumors were circulating that L’Oreal was in talks to buy NYX Cosmetics (read NYX Cosmetics May Be Bought by L’Oreal). Today it is being reported by Reuters that L’Oreal has now signed an agreement to acquire NYX.
“French cosmetics group L’Oreal (OREP.PA) said on Wednesday it had signed an agreement to acquire Los Angeles-based NYX Cosmetics as it builds up its stable of U.S. brands.
L’Oreal did not release the price it was paying for the company, but said the U.S. firm had sales in the year to the end of May of $93 million, up 57 percent on the previous period on a comparable basis.” – Reuters
NYX Cosmetics is currently certified by both PETA and Logical Harmony as a cruelty free brand. They also have a lot of vegan options available.
As many cruelty free consumers know, L’Oreal has a reputation for testing on animals. This acquisition is shocking news to many consumers. If you have been keeping up to date, you have likely seen that many people have been reaching out to NYX Cosmetics via Facebook, Twitter, and email to express their opposition to the brand being purchased by L’Oreal.
While some brands purchased by L’Oreal in the the more recent past, such as Urban Decay, have been able to maintain cruelty free certifications this seems to be the exception and not the rule with L’Oreal brands. Sadly, the majority of L’Oreal brands do test on animals. For many consumers NYX being owned by L’Oreal is enough to no longer purchase their cosmetics even if they do maintain their cruelty free certifications.
As always, I will do my best to keep you up to date on news of this acquisition. Thank you to Jen from My Beauty Bunny for letting me know about the article!
