Estée Lauder strikes deal to acquire Le Labo

The Estée Lauder Companies, a manufacturer and marketer of skin care, makeup, fragrance and hair care products, has signed a definitive agreement to acquire Le Labo, a high-end fragrance and sensory lifestyle brand, for an undisclosed amount.

The acquisition is expected to close in November 2014.

The Estée Lauder president and chief executive officer Fabrizio Freda said: "Le Labo is the perfect complement to our portfolio of prestige beauty brands.

"Fabrice and Eddie have built a beautiful, incredibly unique brand with a focus on craftsmanship, personalization, and High-Touch services. We look forward to collaborating closely with them to continue building on their extraordinary success with discerning global consumers."

Le Labo co-founders Fabrice Penot and Eddie Roschi said: "The Estée Lauder Companies is the ideal home for us and for our brand."

"The Estée Lauder Companies not only understands and respects the core elements of our business, but also has the resources to help us continue to grow into a more fully expressed sensory lifestyle brand. The Company has a strong track record of growing and nurturing prestige entrepreneurial brands, and we love that they are so supportive of and committed to our vision," they added.

Founded in 2006 by fragrance industry veterans Fabrice Penot and Eddie Roschi, Le Labo provides a selective assortment of fragrance and sensory lifestyle products in minimalistic retail environments.

Its current product offerings include fragrances, body care products and candles, as well as limited-edition ‘City Exclusive’ scents, available only in certain boutiques by region.

It product are available brand’s freestanding stores in New York, London, Paris, Los Angeles, San Francisco, Tokyo and Hong Kong, as well as select prestige department stores in global flagship cities, and the brand’s website.