Cruelty free cosmetics brand NYX Cosmetics is reportedly up for sale and L’Oreal is eager to purchase the brand. On June 11th, WWD posted an article with the headline “NYX Cosmetics, L’Oreal Said Nearing Buyout Deal”.
“The indie mass-market color cosmetics brand is close to finalizing a deal with beauty giant L’Oréal, said industry sources. While nothing has been signed, a potential deal could come as early as the end of the month. NYX, which generates wholesale sales north of $100 million, could fetch as high as $500 million, suggested financial observers.
Another frontrunner for the brand is said to include TPG Growth, which earlier this year purchased the value-price mass color brand E.l.f. Cosmetics from company founders and the private equity fund TSG Consumer Partners.” – WWD & Phyrra
I first found out from fellow cruelty free blogger Phyrra in her post NYX Cosmetics May Soon Be a L’Oreal Brand. Since she posted about it, lots of fans have come forward to let NYX know that they do not support their potential new parent company and that the brand will lose them as a consumer if this purchase is made. WWD first released the news, but no other news outlets have posted any updates. One look at the NYX Facebook page shows that many oppose the potential new parent company being L’Oreal.
It is possible that L’Oreal would let NYX maintain their current cruelty free stance. The brand is certified as cruelty free by Logical Harmony and by PETA. They also have a lot of vegan cosmetic items. L’Oreal also owns Urban Decay, who has since been re-certified as cruelty free by both Logical Harmony and Leaping Bunny. It is always a slippery slope when a cruelty free brand is owned by a company who does test on animals because, ultimately, the money is still going to support brands who test on animals. This is an issue that I think everyone needs to be aware of and decide what is best for themselves. Brands like this are still added to the cruelty free brands list here on Logical Harmony, but I will no longer promote those brands through my website or social content.
However, if they are purchased by TPG Growth, as simply an investment firm, the brand would not have a parent company with the negative connotations of L’Oreal. At this point, it sounds as if the deal could go either way. In this situation, TPG Growth would be the best path for NYX Cosmetics if they would like to maintain their customer relationships. TPG Growth also owns E.L.F. (Eyes Lips Face) Cosmetics, which is one of the most readily available cruelty free makeup brands on the market.
What can you do? As always, I suggest that you use your voice as a consumer to let NYX know how you feel about this potential change. Post on their Facebook page and tweet at them to let them know what your thoughts are.