Estee Lauder Cos., snapping up another niche player in the $6-billion prestige beauty market, said Thursday that it acquired Stila Cosmetics Inc., the 5-year-old Los Angeles-based firm founded by a former makeup artist.
The terms of the Stila deal were undisclosed, but Estee Lauder spokeswoman Karen O'Connor said the acquisition fits the overall strategy of the cosmetics company, which currently coddles 12 brands under its corporate umbrella.
Stila, whose cosmetics are sold at Nordstrom, Sephora and other high-end stores, makes lip, face, eye, cheek and body products that appeal to young women who like to keep up with beauty trends and are willing to pay more than drugstore prices.
Stila founder Jeanine Lobell, who will become chief executive and president of the new company, will retain creative control over Stila's products. The 35-year-old wife of "ER" television star Anthony Edwards said in an interview that Estee Lauder will lead her company further into the international market and act as a source of guidance.