Several weeks ago it was reported that cruelty free brand Too Faced was up for sale and cosmetics giant Esteé Lauder was one of the prospective buyers. This concerned many about the potential change in status for Too Faced – if Esteé Lauder purchased them, would Too Faced remain cruelty free? After several weeks of silence from the brand, news has emerged that Too Faced has a new investor, and it’s not Esteé Lauder. General Atlantic, a global investment firm, has acquired the majority stakeholding in Too Faced.
Continue reading Too Faced Gains a New Investor, and It’s Not Estee Lauder!
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic is also invested in Zagat, Fandango, BuzzFeed, Squarespace, Box, Bazaarvoice, and more. Looking at their portfolio, it does not appear that they are invested in any other cosmetics brands.
Too Faced’s co-founders, Jerrod Blandino and Jeremy Johnson, will continue to be involved in the company. Jerrod will be the chief creative officer and Jeremy the chief executive officer. The Wall Street Journal reported that General Atlantic seeks to expand the distribution of Too Faced into overseas markets and online, but it is still unclear if this means that the brands cruelty free stance could be impacted. Too Faced is currently not sold internationally but is highly demanded in the EU.
Logical Harmony has reached out to Too Faced and General Atlantic for comment. However, the continued involvement of the original founders does seem promising as they are both very vocal about how important being cruelty free is to the brand.