Drunk Elephant, one of the last of the great beauty unicorns, has been bought.
TOKYO — After months of speculation, Shiseido announced Tuesday that it has signed a deal to acquire a 100 percent stake in “clean beauty” brand Drunk Elephant, in a transaction valued at approximately $845 million. The move is the latest step in the Japanese beauty company’s push to become a bigger player with a more global footprint.
Speculation about the possible sale of Drunk Elephant had been ongoing since early this year, and just last week it was rumored that Shiseido and Estee Lauder were among the finalists for the transaction. Drunk Elephant Lala Retro Whipped Cream, and Drunk Elephant founder Tiffany Masterson. Courtesy Photos
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