CEO Leslie Blodgett is the brains behind Bare Escentuals. Courtesy Photo

In a move causing tsunami-like waves in the beauty world this morning, Japanese beauty giant Shiseido is acquiring mineral makeup innovator Bare Escentuals for an estimated cool $1.7 billlion bucks, WWD reports today.

The plan? Bare Escentuals will operate as a separate division of Shiseido, and continue to be managed by CEO Leslie Blodgett – famous with the mineral makeup set for her sold-out QVC segments that mix makeup with girly gab. But Blodgett isn't just a creative force; the savvy businesswoman will exchange 40 percent of her six percent stake in Bare Escentuals for an unnamed amount of Shiseido stock.

Blodgett joined the Bare Escentuals team in 1994, and skyrocketed the brand's average $4 million in sales to $556 million by 2008.

"I couldn't be more pleased to be joining forces with the team at Shiseido. Together with Shiseido, we look forward to bringing our mineral-based beauty products to even more women worldwide," says Blodgett.

Now that every beauty brand and their mother has some form of a mineral makeup product on the market, industry insiders are curious to see if Bare Escentuals can transform beyond its mineral technology. Blodgett has said she's focused on creating new brands; the Buxom Lips plumping gloss has gone from Bare Escentuals product to its very own solo brand.

Will Asian women flock to the no-makeup makeup revolution like Americans have?

Only time will tell – but we're willing to bet the odds are in Bare Escentuals' favor.