Has Estée Lauder Companies decided against selling Dr. Jart+, Too Faced and Smashbox?

By Amanda May | Published: 14-Jul-2026

After months of speculation that Estée Lauder Companies was allegedly mulling a potential sale of Too Faced, Smashbox and Dr. Jart+, a new report alleges the beauty giant has decided to keep the trio in its portfolio

It looks like Estée Lauder Companies (ELC) will not be selling Dr. Jart+, Too Faced and Smashbox after all, according to a new report.

There has been much speculation this year that the giant has been mulling a sale of the trio of brands within its portfolio, with K-beauty incubator The Founders even alleged to be a potential buyer.

However, despite both Too Faced and Dr. Jart+ being identified last year as underperforming for the company in its annual results, it is alleged that ELC has now decided to keep the brands, as well as Smashbox.

This is according to an internal document sent by ELC CEO Stéphane de La Faverie, which has been viewed by The Business of Beauty.

“As we looked ahead, one thing became clear: our brands have different strengths, consumer positioning, competitive dynamics, and growth opportunities, requiring tailored business models to help them accelerate innovation, strengthen consumer connections, and unlock long-term growth, said de La Faverie in the note, according to The Business of Beauty’s report.

“By adopting the speed, agility and entrepreneurial mindset of successful beauty indies, we are evolving how we operate.”

ELC said “we are not commenting today” when Cosmetics Business reached out for comment.

All three beauty brands have been in ELC’s portfolio for some time.

ELC acquired Smashbox in 2010, Too Faced in 2016 and a minority stake in Dr. Jart+ in 2015, and then the remaining shares in 2019.

According to the memo seen by The Business of Beauty, Too Faced’s US headquarters will allegedly move from Los Angeles (LA) to New York, with a streamlined team that will sit alongside ELC’s wider make-up cluster.

Meanwhile, Smashbox will continue to operate in LA, but also with a smaller team, while Dr. Jart+ will remain in Korea, according to the report.

It is also alleged that Origins will now move under ELC-owned Deciem, the parent company of The Ordinary, NIOD and The Chemistry brand.

This alleged news comes hot on the heels of ELC’s restructuring costs rising again, as the company continues to roll out its ‘Beauty Reimagined’ turnaround plan.

ELC is in year two of its ongoing strategy, which CEO de La Faverie introduced in January 2025 to boost flagging sales.

This has included several cost-cutting measures, such as consolidating service providers, expanding outsourced services and standardising its “related end-to-end business processes”.

As well as slashing jobs, with ELC even announcing in May that it will cut up to 3,000 more jobs in a “pivotal” year for its turnaround.

These are largely from retail roles in department stores and freestanding stores, as the company focuses on high-growth channels, such as Amazon and TikTok.