‘The Worst shampoo’ from shampoo retailer is $2,500 more than most
The best-selling Luseta shampoo from shampoo seller Lusota has sold for $2.5 million at Sotheby’s, the highest price ever for a brand of shampoo, a new record for the retailer.
The $2 million mark is an increase of $100 over the previous high of $2 billion in December.
The company also broke the previous record for shampoo sales.
The company sold 5.6 million units in 2017.
The Lusotas brand of Lusetas shampoo, with its distinctive scent, is the No. 1 selling brand in the U.S. and Canada, according to the Sothebys.
The price tag was driven by a $1.5 billion acquisition of the Lusitas brand by the German company.
The deal was approved by German antitrust regulators and was expected to close in the next three months.
The German company is now controlled by billionaire hedge fund manager Axel Weber, who also owns a major U.K. cosmetics and beauty firm.
Luseta sells the most expensive shampoo in the world, costing $5,000 to $7,000.
But the company said the cost of the shampoo is only one-tenth of its costs.