It’s 1991, and after the financial crash of 1987, Estée Lauder is looking for a new way to continue expanding without sinking millions of dollars and several years into developing a new brand. The answer lies in acquisitions, and they set their sights on two young, hip, buzzworthy companies: MAC and Bobbi Brown. 

Meanwhile, determined to strengthen L'Oréal’s foothold in the American mass market, CEO Lindsay Owen-Jones takes a risk on flailing drug store brand Maybelline, convinced he can turn it into an industry juggernaut.

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