Estee Lauder wrecked poor old Stila as a brand and then sold them on. Also Prescriptives which they started as a brand.
But to be honest Estee Lauder is the lesser evil of the three brands, at least they don't animal test and won't move full production to China like the others would no doubt do.
Below part of the press statement from Lauder and the Factors.
The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has signed a definitive agreement to acquire Smashbox Beauty Cosmetics, Inc., a privately held, photo studio-inspired prestige cosmetics company based in Los Angeles, California. The acquisition is expected to close in July 2010, subject to certain conditions, including regulatory approval. While terms of the deal were not disclosed, the Company said that the transaction is expected to be accretive to earnings in fiscal year 2011, before transaction and integration costs.
“The Estée Lauder Companies is the ideal home for Smashbox,” said Dean Factor, co-founder and Chief Executive Officer, Smashbox Beauty Cosmetics, Inc. “The Company possesses the scale and vision to help transition Smashbox into its next phase of growth, and its track record of nurturing and growing prestige brands is second to none. Moreover, we share a similar cultural heritage and dedication to consumer-inspired innovation and creativity. We expect to benefit greatly from The Estée Lauder Companies’ extensive knowledge in product development, operational execution, and international marketing and distribution, and we look forward to the next great period of growth for the brand.”
The Estée Lauder Companies will collaborate with the Smashbox organization to develop a comprehensive integration plan to transition Smashbox into The Estee Lauder Companies’ family after closing. Dean Factor, co-founder and Chief Executive Officer, Davis Factor, co-founder, Chief Creative Office and celebrity photographer, and Budd Taylor, President, will each play key roles with respect to these activities and the continued success of Smashbox. Smashbox will continue operating out of its Los Angeles, California office.