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Estée Lauder has purchased cool New York-based fragrance brand Le Labo. Financial details of the transaction weren't disclosed, but WWD's sources suggest that Estée Lauder could've paid up to twice as much as Le Labo's annual retail sales, which are estimated at $20 million to $30 million. Le Labo calls itself a "slow perfumery," with made-to-order fragrances available in 35 retail locations around the globe. WWD notes that the last time Estée Lauder made a similar major acquisition was when it purchased Smashbox in 2010.
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