The Estée Lauder Companies might be slimming down. The beauty giant is mulling the sale of Smashbox, Too Faced and Dr. Jart+, according to a report.

The three brands have been part of the ELC portfolio for years.

The Original Deals

Lauder acquired Smashbox Beauty Cosmetics in 2010 from Founders Dean and Davis Factor, the great-grandsons of makeup legend Max Factor.

ELC purchased Too Faced in 2016. The deal was reported to be ELC’s largest acquisition to date, with a purchase estimated around $1.45 billion. When the acquisition was announced, Fabrizio Freda (then president and CEO of ELC) called Too Faced “one of the most dynamic makeup brands in the world.”

Lauder invested in Dr. Jart+ in 2015 when it acquired a minority stake in Have & Be, its parent company. A deal for the remainder of the company came in 2019. It marked ELC’s first acquisition of a beauty brand based in Asia.

Estée Lauder’s current stable of brands, as of Jan. 7, 2026, includes: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, Tom Ford, Smashbox, Aerin Beauty, Le Labo, Editions de Parfums Frédéric Malle, Glamglow, Kilian Paris, Too Faced, Dr. Jart+, DECIEM (The Ordinary and NIOD) and Balmain Beauty.