Drunk Elephant

Drunk Elephant is a Houston-based skincare brand that was acquired by Shiseido in 2019 for $845 million.^[1][2][3] The brand was originally founded in 2012 by Tiffany Masterson^[4] as part of the clean beauty movement, and had its public launch in August 2013.

After its launch, Drunk Elephant became one of the fastest-growing brands ever at Sephora,^[5] fueled in part by its popularity among younger consumers, including pre-teens, many of whom found the brand on TikTok short videos of "skincare smoothies".

Drunk Elephant is the fourth most popular skincare brand in the US. ^[4]

History

Drunk Elephant was founded in 2012 by Tiffany Masterson, a Houston-based mother of four.^[6] The company was established with initial investments from her brother-in-law and brother, the latter of whom became company president.^[7] After a year of engaging with consumers and refining the products, the brand officially launched in August 2013.^[6]

In 2014, Drunk Elephant attended the Cosmoprof trade show, where it was noticed by Sephora.^[6] The brand launched with the retailer in January 2015, becoming a top-selling and fast-growing skincare brand for the company.^[8][9] In March 2017, Drunk Elephant secured a minority investment from the private equity firm VMG Partners and Leandra Medine to fund international expansion and scale operations.^[10] By 2018, the company's net sales reached nearly $100 million.^[7]

In October 2019, the Japanese cosmetics group Shiseido acquired Drunk Elephant for $845 million.^[1][2][3][7] At the time, Drunk Elephant's global net sales for 2019 were $120 million.^[11] The valuation was estimated at over eight times the brand's 2018 net sales.^[12] Masterson remained with the company as Chief Creative Officer and President.^[7] Under Shiseido, the brand expanded its product lines into hair and body care in 2020 and launched in mainland China in 2024.^[13]

The brand has since faced challenges. In the first quarter of 2025, Shiseido reported a 65% year-over-year sales decline for Drunk Elephant, attributed to an "identity crisis" which alienated its core customer base.^[14]