CITY OF INDUSTRY, Calif. and BURBANK, Calif., June 13, 2018 /PRNewswire/ — Markwins Beauty Brands (“Markwins” or the “Company”) has completed a transaction that will usher the brand of LORAC Cosmetics, LLC (“LORAC”) (www.lorac.com) under the umbrella of Markwins.
As one of the largest privately-owned beauty companies, Markwins continues its industry leading growth with its fourth major acquisition in fifteen years. Markwins acquired AM Cosmetics with brands wet n wild and Black Radiance in 2003, Physicians Formula Holdings, Inc. in 2012, and Aspire Brands assets Bonne Bell and Lip Smacker in 2015. With the addition of LORAC, Markwins will complement its already well-established mass beauty portfolio with the addition of this prestige brand.
“LORAC is the original professional makeup artistry brand, and Markwins is excited to add its unique market-positioning to our expanding brand portfolio,” said Stefano Curti, Global President of Markwins. “With LORAC, Markwins enters the prestige channel with an iconic Hollywood mainstay – expert products created under the intuition of makeup legend Carol Shaw, resulting in technologies that compel even the sharpest of beauty enthusiasts' critical eye.”
LORAC Cosmetics was founded two decades ago by Hollywood beauty legend and PRO makeup artist Carol Shaw after she saw the need to develop products that wouldn't irritate her celebrity clients' sensitive skin. What resulted was a line of professional, red carpet ready formulations with skin-friendly ingredients available to all. Shaw will continue to work with Markwins as lead consultant on the brand.
“As the Founder of LORAC, a PRO Artistry brand, I am thrilled to see Markwins re-energizing the brand and taking it to new heights,” said Shaw. “Markwins recognizes the importance of honoring our PRO heritage and continuing to develop high-quality products that create effortless, Red Carpet beauty for which LORAC is known.”
Rounding out its strategic portfolio of non-competing brands, Markwins adds LORAC's prestige consumer to join masstige brand Physicians Formula, industry-leading entry point brand wet n wild, leading ethnic brand Black Radiance, top youth brand Lip Smacker, and its successful collection business to continue to cater to an all-inclusive consumer base.
“Markwins' expanding success is simple at its core: we respect that different people have different needs. Whether culturally or economically, we understand that we need to satisfy the global consumer by continuing to acquire and develop disparate brands – one brand can't conquer the world,” said Eric Sung-Tsei Chen, CEO of Markwins. “With LORAC, we're thrilled to add its distinct Hollywood heritage and celebrity status. I have always had a bias toward California, and LORAC is yet another embodiment of the California beauty spirit.”
Stifel served as financial advisor, and Latham & Watkins LLP acted as legal advisor, to Markwins on the transaction.
About Markwins Beauty Brands
Markwins Beauty Brands is a global leader in beauty and cosmetics. The company, founded in 1984 by CEO Eric Sung-Tsei Chen, is distinguished by groundbreaking product innovation, reimagined go-to-market strategies, and leading-edge supply-chain dynamics. From humble, disruptive origins, the company – famous early as the pioneer of compact palettes and gift sets – stands today as one of beauty's largest privately-held firms and is recognized within the industry as top “brand builder.”
With a brand portfolio that includes wet n wild®, Physicians Formula®, Black Radiance®, Lip Smacker®, and Bonne Bell®, the company commands a US FDM share of almost 10, and is enjoying growth that vastly outpaces the industry. With distribution in over 80,000 doors and 80 countries, Markwins Beauty Brands can be found in retail outlets including Department, Specialty, Mass, Drug, and Food stores.
About LORAC Cosmetics
Hollywood beauty legend and PRO makeup artist Carol Shaw was inspired to develop LORAC after watching her celebrity clients suffer from skin irritation and breakouts on set. The professional formulas she created were infused with gentle and soothing ingredients that provided professional performance, without sacrificing healthy skin. Known for effortless, red carpet style and skin-friendly ingredients, LORAC quickly became a favorite indie beauty brand of PRO artists and A-list celebrities alike.
More than two decades later, LORAC continues to develop the highest quality, pigment-packed formulas and wearable shades with the mindset of what a professional artist needs to create flawless looks. Our team of PRO artists provide the tools and on-trend techniques, so everyone can create beautiful looks just like a PRO.
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SOURCE Markwins Beauty Brands