To further diversify its product line, Lilly made an uncharacteristic, but ultimately profitable move in 1971, when it bought cosmetic manufacturer Elizabeth Arden, Inc. for $38 million. Although the subsidiary continued to lose money for five years after Lilly acquired it, executive management changes at Arden helped turn it into a financial success. By 1982 the subsidiary's "sales were up 90 percent from 1978, with profits doubling to nearly $30 million." Sixteen years after its acquisition, Lilly sold Arden to Fabergé in 1987 for $657 million.