Clichy, 25 May 2018 - L'Oréal has finalized the acquisition of Pulp Riot, a professional haircolor brand launched by David and Alexis Thurston in the United States in June, 2016.
Since its launch, Pulp Riot has been transforming the professional haircolor market by creating industry leading content, and using social media to effectively inspire and educate stylists across the world. To date, Pulp Riot has amassed over 675,000 Instagram followers.
Pulp Riot had net sales of US $ 11 million in 2017. Its largest distributor in the US is SalonCentric. The brand also started its international expansion.
Nathalie Roos, President Professional Products Division of L'Oréal, said: "We are thrilled to welcome the Pulp Riot teams and to amplify the international development of this iconic brand. Its unique creative artistry and stylist powered education will inspire the entire division."
David Thurston, CEO and Founder of Pulp Riot, said "We're excited to join the L'Oréal family, the grandest beauty company in the world. We believe this move will give Pulp Riot the fire power to accomplish our most ambitious goal for the brand. We are especially happy that so many of the loyal stylists who contribute to the success of Pulp Riot will have even more opportunities moving forward."
David Thurston will continue to serve as CEO and lead Pulp Riot from the company's Los Angeles headquarters.
L'Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 26.02 billion euros in 2017 and employs 82 600 people worldwide. As the world's leading beauty company, L'Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 3,885 people, are at the core of L'Oréal's strategy, working to meet beauty aspirations all over the world. L'Oréal's sustainability commitment for 2020 "Sharing Beauty With All" sets out ambitious sustainable development objectives across the Group's value chain.
For more information: http://mediaroom.loreal.com/en
"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."
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