As I emerge from the Fashion Week haze, complete with a low-grade fever and a gnarly sore throat, comes news that cosmetic giant Estée Lauder is closing its Prescriptives brand, according to WWD. “We believe that the difficult decision relating to Prescriptives will allow us to redirect our resources to key strategic imperatives where we see the highest growth potential,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies. I've always been a big fan of the 30 year old brand, especially their blended foundations. But I'm more concerned about breaking this news to my mom, who counts Calyx as her signature scent, along with so many others. Time to stock up on the bottles, ladies.
Estée Lauder Will Buy Too Faced in Its Largest-Ever Acquisition [Updated]
The beauty giant will acquire the cosmetics brand for $1.4 billion.