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Trusted Contributor
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Registered: ‎03-10-2010

Buyout of IT Cosmetics

[ Edited ]

WOWZA, Jamie is going to be a VERY rich woman. L'Oreal has agreed to pay 1.2 Billion in cash for It Cosmetics. Yikes.. I believe she is the sole owner if I am not mistaken. 

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Old news - I believe this happened sometime last year

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yes, it happened in july, 2016.

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Dated July 22, 2016   

I always like documentation provided for statements like the one made in the original post.

 

https://www.bloomberg.com/news/articles/2016-07-22/l-oreal-agrees-to-acquire-it-cosmetics-for-1-2-bi...

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I think that already happened, quite some time ago.

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@Sunshine45 - Thank you for confirming - @wakefield64 - Jamie wasn't the "sole" owner - there was a group of investors (don't know how many)

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2016 when this sale to L'Oreal occurrred, I stopped buying IT cosmetics.

 

L'Oreal is NOT a cruelty free company, as IT was before they sold out.

 

They sell in China, so they test on animals, according to China's rules/laws.

You never know how strong you are until being strong is the only choice you have.
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When I thought this was a new/recent event, I perked up because I hoped against hope that Jamie might not be the perpetual commercial face of IT Cosmetics going forward.

 

DANG.

Life without Mexican food is no life at all
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I wonder if L'Oreal has any idea how truly fickle we are when it comes to brand, how easily turned off we are (e.g., animal testing), and how, after watching degredation of products in other companies after their original owners sell them to big firms or groups, we will not hesitate to jump ship simply because a company has been sold.

 

Product corruption appears to have happened to Philosophy. It definitely happened at Ojon, and it's happened to others I can't recall at the moment. I know with Ojon, many of us who relied on those products were furious at the reformulations. I read complaint after complaint about watered-down fragrances from Philosophy, which I thought was massively overrated anyway. 

 

Re IT, I unsubbed from their emails recently and am hoping the new Denese cream will be a good substitute for Confidence in a Cream, which I am confident will be changed in the foreseeable future. I'm not waiting to have the rug pulled out from under me.

 

I think L'Oreal may wait quite some time to recoup its investment. Dumb move, an all-cash deal in this volatile, saturated market.

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I've stocked up on my celebration foundation becasue the product will likely go downhill when L'Oreal gets their hands on it!