According to an article in Forbes, “Shiseido announced Tuesday that it will spend $845 million to acquire Drunk Elephant, the female-founded clean beauty brand that has become one of the fastest-growing prestige skin-care companies in history.”
Drunk Elephant has quickly become a cult favorite in the beauty community because of its effectivity in skincare. Due of its popularity, it “was said to be hoping to fetch a valuation of more than $1 billion, but even at $845 million, the implied valuation is more than eight times sales, making the Drunk Elephant acquisition one of the biggest ever for a skin-care brand.”
Drunk Elephant also released an official statement on Instagram, “So…some great news! I’ve decided to partner with Shiseido. I couldn’t be more excited that we’ve found someone who respects my vision and the brand identity and is willing to let us stay who we are. Shiseido is a really beautiful company with a beautiful culture.
I know what you’re wondering because I am a consumer and I always think/wonder the same things when brands I love are acquired. I want to reassure you. The formulations won’t be changing. I’ll remain in my same role. My same incredible and lovable entire team will stay with me. If it wasn’t announced, you wouldn’t be able to tell the difference; that’s our main goal. Our prices will not be increased. And, we’ll remain cruelty-free. I wouldn’t have signed on for this unless both parties could agree. Fortunately, we wanted the same things; we share like values. I feel so honored to join this global powerhouse.
The best part in my opinion is that we’ll be able to act more quickly to accomplish a few things that you all have told us are very important to you and are also important to us: 1. Attain sustainability across the brand. 2. Get to the markets who have been requesting the products. 3. Share our philosophy in a louder way, spreading awareness so that we can hopefully help more people reconnect with their skin all over the world. 4. Ignite our anti-bullying campaign on a bigger stage.
We are feeling excited and positive and a little overwhelmed (in a great way)! As always feel free to ask any questions you may have or share any concerns. ?
Finally, we’d like to celebrate by sending out a cozy token of our gratitude to some of our followers. This community has been the most loving, kind, supportive, inquisitive and lovely community I could ever have dreamt of and I will be forever grateful! Please share below something you’ve loved about Drunk Elephant, and that you agree should never change! We’ll choose 100 and notify you on the DM.
With love and gratitude ???TM”
We sure do hope that Shiseido does a good job at making Drunk Elephant product even better than it already is. Or at least, not mess it up.
