Prestige Japanese beauty company Shiseido has acquired the cult clean skincare brand Drunk Elephant.
The company is hoping that the deal, secured by Shiseido Americas, will strengthen its position in the global prestige skincare market.
Tiffany Masterson, Founding Partner and Chief Creative Officer at Drunk Elephant, said of the move: "I started this business as an industry outsider, and from the beginning I did things a little differently. To join with a powerhouse beauty company such as Shiseido that leads the industry in innovation and global excellence is a dream come true for me and for Drunk Elephant." She added that the team at Drunk Elephant, as well as its product formulations, would remain the same.
In a post published via Drunk Elephant's Instagram account, Masterson elaborated: "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."
"Drunk Elephant is changing the way people understand and experience beauty by offering products that are effective and clean compatible," added Marc Rey, CEO, Shiseido Americas and Chief Growth Officer of Shiseido. "Drunk Elephant is built on a strong brand foundation and a unique philosophy that fits perfectly with Shiseido's values and skincare heritage."
Since being founded by Masterson in 2012, Drunk Elephant has garnered a reputation as a cult favourite amongst Millennials and Gen Z beauty buffs for its cruelty-free formulas, all of which are created without essential oils, drying alcohols, chemical sunscreens, SLS, silicones and fragrances/dyes.