Estée Lauder nears sale of Too Faced, Smashbox and Dr. Jart brands - WWD

Investing.com -- Estée Lauder Cos. has received final bids for three of its beauty brands and could complete the sales within weeks, according to a report from WWD.

The company is preparing to sell makeup brands Too Faced and Smashbox, along with skincare brand Dr. Jart, WWD reported Friday. The brands were initially marketed as a package, but the strategy shifted to offer the makeup brands together while selling Dr. Jart separately.

At least one party expressed interest in acquiring all three brands, while several others bid on just the color cosmetics brands. A few potential buyers focused solely on Dr. Jart, sources told WWD.

Estée Lauder declined to comment on the report.

The potential sales follow chief executive officer Stéphane de La Faverie's announcement last year that the company is reviewing its brand portfolio as part of a turnaround strategy.

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