Estee Lauder eyes millennials with $1.45 bn Too Faced buy

US cosmetics maker Estee Lauder on Monday snapped up the beauty products brand Too Faced, beloved by the younger demographic, for $1.45 billion in its biggest acquisition to date. The deal aims to "strengthen the company's leadership position in the fast-growing prestige makeup category globally, increase the company's consumer reach in the specialty-multi channel, and win with millennials -- all in strong alignment with the company's strategy," Estee Lauder said in a statement. Other big players in the cosmetics market have been rolling out similar strategies.