I’ve never really looked into the business end of Too Faced – it was started by Jerrod and Johnson Blandino in 1998 and at the time was the closest competitor to Urban Decay (snapped up by L’Oreal).
Too Faced took on investment in 2012 with Weston Presidio who also are investors in the US Jane cosmetics brand, but now a majority stake in the brand has been acquired by private investment firm, General Atlantic, investors also in Tory Burch.
If you look at the Stila model, where it started as an independent brand conceived by makeup artist, Jennine Lobell, and ended up changing investment hands several times, losing a little bit of its history every single time (like, where did the Stila girl go?) then Too Faced is certainly one to watch. Investors like to make money, simple as.
Meanwhile, over in Can’t-Believe-It-Land, law suits are flying over a fake bid for Avon from Bulgaria. Apparently, it’s to do with stock (as in stocks and shares) manipulation, with a view to (allegedly) some investors looking to sell at artificially inflated prices. Blimey.
Coty is apparently bidding on some of the P&G brands up for sale – it can only be make-up, fragrance or hair, surely? Some of the P&G brands are Max Factor, Covergirl, Dolce & Gabanna, Hugo Boss and Aussie. I know they’re trying to shift their hair care (Wella, for example), but who knows.. watch this space!
And, while the brand will retain its name, Charles Worthington himself will no longer have anything to do with the actual brand. His contract with PZ Cussons is up (he sold the business to them in 2004) and he’s out.
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