With such a lot of attractiveness manufacturers launching on what appears like a day by day foundation, it is particular when the general public takes a prepared passion in a specific corporate. Over the previous few weeks, then again, all eyes were on BeautyCounter, as other folks search for data at the corporate’s standing after information unfold that it is last.
On Might 7, the logo’s founder and CEO Gregg Renfrew posted an replace on her Instagram web page explaining to fans that Counter Manufacturers, BeautyCounter’s mum or dad corporate, was once last its doorways. Within the publish, she explains that she shaped a brand new corporate (G2G) and was once in a position to procure the rights to promote BeautyCounter merchandise one day however that the relaunch timeline that she was hoping for was once now not possible. As an alternative, they’re now focused on a overdue 2024 date. This has ended in a spike in inquiries like “What took place to the BeautyCounter emblem?” and “Why did BeautyCounter shut?” on Google.
This announcement follows the leak of a confidential e mail that was once despatched to emblem advocates (the community of entrepreneurs that promoted the logo to others each on-line and in individual) on April 17, which was once the primary indicator to a few supporters that there was once hassle at the horizon. Posted to Reddit, the e-mail gave the impression to be a right away understand of the termination of all emblem advocates, with sparse main points on their long run with the corporate. “You are going to obtain fee of all amassed and unpaid commissions during the termination date, and also you shall another way haven’t any additional rights to any bonuses, commissions, or different reimbursement following the termination date,” it learn partly. Close to the top of the e-mail, the logo reminded advocates that they had been certain to the confidentiality and non-disclosure agreements of their contracts.
Since then, every other e mail has long past out to the logo advocates from Renfrew that solutions a couple of extra questions concerning the transition. PS got a duplicate of this e mail for overview from a present worker. “As , Carlyle purchased Counter Manufacturers in 2021 and, on the finish of that 12 months, I used to be requested to step down as CEO,” it reads. “In February 2024, at their request, I re-joined as CEO of Counter Manufacturers. I used to be admittedly hesitant to go back however in the long run authorized the position . . . Then again, upon my go back, the previous corporate’s financial realities had been worse than anticipated. It had extra debt than price range to pay that debt, and Carlyle selected to not supply additional investment. Merely put, Counter Manufacturers ran out of cash.”
The remainder of the e-mail reiterated that whilst Carlyle Crew selected to liquidate Counter Logo’s property, the brand new corporate that she based does personal sure BeautyCounter rights and is operating to relaunch the logo with the similar venture of constructing blank, high-performing beauty merchandise. It additionally responded some regularly requested questions, together with: “Will Advocates nonetheless be concerned within the new corporate?” (Sure); “Will BeautyCounter merchandise be bought in Ulta shops going ahead?” (They’re going to be to be had in bodily Ulta retailer places thru July 2024, and then they are going to simplest be bought during the trailer on-line); and “What is occurring with the retail shops?” (Non-seasonal retail places in New York Town and Denver are closed, however a seasonal Nantucket location will stay thru summer time 2024).
As of at the moment, no additional main points are to be had concerning the relaunch. Till then, lovers of the logo can stay an eye fixed out for main points by means of each Renfrew and the logo’s Instagram pages.
Ariel Baker is the affiliate editor for PS Good looks. Her spaces of experience come with famous person information, attractiveness tendencies, and product critiques. She has further bylines with Essence and Forbes Vetted.