On Wednesday, WWD reported a financial statistic you probably could've predicted: that luxury sales in the U.S. took an ugly nosedive during the holiday season. Retail, as we know it, is struggling, with department stores and fashion houses alike going to great lengths to get shoppers — millennials, especially — in the door. According to MasterCard, there was a 12.9 percent dip in the domestic luxury business in November and December.
The Estée Lauder Companies will acquire Too Faced, it announced in a statement on Monday evening. The makeup line, best known for its playful scents, innovative formulas, carefully honed branding and massive social media following, launched in 1998. It has continued to build a loyal following in the years since and has become a favorite amongst many beauty bloggers and influencers (no doubt one reason it was an attractive acquisition for Estée Lauder).