Unilever to take over cosmetics brand Hourglass

Consumer goods company Unilever has entered an agreement to purchase luxury colour cosmetics brand Hourglass.

Founded in 2004, Hourglass offers various complexion, makeup, and skincare products, alongside cosmetic tools such as makeup brushes. The brand combines formulations, technological innovation, and active ingredients for the development of its complexion products.

Unilever's personal care president Alan Jope said: “The colour cosmetics category has been showing high growth-rates, driven by social media content, channel diversity, and democratisation of professional makeup techniques, and it therefore presents a significant opportunity.

“Hourglass is already a successful brand in this space, offering fantastic make-up products that also deliver skin care benefits, and we look forward to continuing to grow this wonderful brand.”

In addition to an online store, Hourglass operates a 1400ft² retail outlet in California featuring exclusive products and full makeup services. The brand’s products are also sold at select retailers such as Bergdorf Goodman, Nordstrom, John Lewis, Lane Crawford, Blue Mercury, Harvey Nichols, and Mecca, as well as Net-A-Porter, Liberty, Space NK, and Urban Retreat at Harrod’s.

The products are further available at Sephora stores in the US, Mexico, Brazil, Italy, Canada, Singapore, Malaysia, and Thailand.

Hourglass' chief executive officer (CEO) Carisa Janes said: “As the first colour brand in Unilever’s Prestige portfolio, we are excited about this partnership as Hourglass continues to challenge the status quo with high performance luxury cosmetics.”

Subject to customary regulatory approvals, the transaction is expected to be completed in Q3, 2017.