TAGS: Skin Care
Shiseido has announced the signing of a definitive agreement to acquire Drunk Elephant by a Subsidary of Shiseido, Shiseido Americas Corporation. The acquisition will strengthen the leadership of the company in the global prestige skin care market.
To Provide Support to Drunk Elephant
Shiseido’s Global Innovation Center and Digital Center of Excellence will provide a wealth of expertise and a unique support network to Drunk Elephant, to maximize opportunities for growth and development across all channels. Drunk Elephant will also be able to leverage Shiseido’s global platform and resources to expand into new and existing markets both in the Americas and internationally including Europe and Asia.
To Strengthen Leadership in Skin Care Market
Masahiko Uotani, President and CEO of Shiseido, commented, “
We are thrilled to announce the acquisition of Drunk Elephant, one of the fastest-growing prestige skin care brands in history. This transaction is squarely aligned with Shiseido’s VISION 2020 goal of accelerating growth and creating value through strategic partnerships. Drunk Elephant’s approach strongly resonates with its highly engaged and loyal consumers, who value the integrity and effectiveness of Drunk Elephant’s formulations combined with a fun, curious approach. I am confident that under Marc Rey’s leadership in the Americas and Shiseido’s global platform and unique resources, we will strongly support Drunk Elephant on its ongoing growth trajectory. I am very pleased to welcome Tiffany and the Drunk Elephant team to the Shiseido Family and together, pursue our long-term mission of “BEAUTY INNOVATIONS FOR A BETTER WORLD”.
Tiffany & Drunk Elephant Team to Join Shiseido Family
Marc Rey, CEO, Shiseido Americas and Chief Growth Officer of Shiseido, added, “
This new and incredibly exciting partnership builds on Shiseido’s significant momentum and successful track record of acquiring distinctive, best-in-class brands. Drunk Elephant is changing the way people understand and experience beauty by offering products that are effective and clean compatible. Drunk Elephant is built on a strong brand foundation and a unique philosophy that fits perfectly with Shiseido’s values and skin care heritage. We are thrilled to welcome Tiffany and the Drunk Elephant team to the Shiseido family and I know they will feel at home from day one.”
Tiffany Masterson, Founding Partner and Chief Creative Officer at Drunk Elephant, said, “
To join with a powerhouse beauty company such as Shiseido that leads the industry in innovation and global excellence is a dream come true for me and for Drunk Elephant. We share similar values, most importantly an unwavering commitment to the consumer. I chose a partner who will let the brand continue to be itself, with the same formulations and the same team.”
The transaction was led by Shiseido Americas and the New York-based Shiseido Global M＆A team, in close coordination with Shiseido Company, Limited, the company’s headquarters. Upon closing, Drunk Elephant will operate within Shiseido Americas, and Tiffany Masterson, Founding Partner and Chief Creative Officer of Drunk Elephant, will continue in her role as Chief Creative Officer. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close before year end.
Source: Shiseido