Don’t let it’s relatively modest sales fool you…Drunk Elephant will command a ten figure deal when it sells later this year. Who’s in the market? Given the velocity of DE’s sales and the height of it’s Instagram fame, only major contenders need apply…
Drunk Elephant, one of beauty’s hottest acquisition targets, is exploring a sale. Who has the desire — and the cash — to pay a potential $1 billion for the buzzy skincare brand?
Last week, Drunk Elephant founder Tiffany Masterson told BoF that she’s exploring a sale of her skincare brand, with industry experts predicting the company could fetch $1 billion later this year.
It’s a steep price; 10-figure deals are usually reserved for brands in the far larger colour cosmetics market, like Too Faced (sold for $1.45 billion to The Estée Lauder Cos in 2017) or It Cosmetics ($1.2 billion to L’Oréal in 2016). Any buyer would be pricing in quite a bit of growth, given that Drunk Elephant’s sales were just under $150 million last year.
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