Alright NYX make-up users…L’Oréal recently announced the signing of a definitive agreement to acquire NYX Cosmetics. Headquartered in Los Angeles, NYX was created in 1999 by entrepreneur Toni Ko who had a vision for creating a line of high quality, on-trend professional color cosmetics at attractive prices. NYX has become one of the fastest growing color cosmetics brands in the United States, reaching an expanding segment of socially connected consumers. In 2013, NYX reported net sales of 72 million US dollars, a growth of +46% vs 2012. Sales continued to record strong growth this year, amounting to 93 million US dollars for the last 12 months ended May 31, up 57% over the comparable year-over-year period.
NYX Cosmetics will continue to operate out of their Los Angeles headquarters under the brand’s current leadership team. The brand will become part of the Consumer Products Division of L’Oréal. This acquisition further enhances L’Oréal’s roster of American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay and Clarisonic.
“NYX has seen tremendous growth in the last decade and I have complete confidence that L’Oreal will remain true to its brand identity and mission, which is to provide high quality, innovative professional cosmetics for women around the world,” said Toni Ko, Chairwoman and founder of NYX Cosmetics. “We possess a shared commitment to creating best in class products and the NYX consumer stands to benefit enormously from L’Oréal’s extensive marketing, distribution and R&D resources.”