Exit – Beautifaire

17 Apr

The founder and chief executive officer of Native, the natural deodorant and personal-care company that Procter & Gamble paid $100 million for in 2017, is exiting the business. Moiz Ali Stephen Leek/WWD Moiz Ali, who founded the business in 2015, is leaving as of Jan. 31. The choice is mutual, Ali and P&G said, and is supposed to permit Ali to shift back into entrepreneur mode. In an internal e-mail, P&G said it “respects and supports” Ali’s departure. Since P&G acquired Native, the brand has quadrupled in size and is nearing $100 million in sales, executives said, partially by expanding its reach in brick-and-mortar retail with Goal, Walmart and Walgreens. Ali, who has invested in dozens of tech start-ups and serves as a mentor to...

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13 Dec

Sephora to Exit Russia – WWD

by Beautifaire101

Beauty, Featured

PARIS — Sephora is exiting Russia. The prestige beauty retailer said Monday that it has inked an agreement to sell the entire shares in its subsidiary within the country to its general manager there. The move, in response to Sephora in a press release, has been done to favor “continuity for workers.” The LVMH Moët Hennessy Louis Vuitton-owned retailer in early March suspended its operations in Russia, after the beginning of the war in Ukraine. On the time, Sephora issued a press release saying: “Given our increasing concerns in regards to the current context and the complexity to operate, we are going to suspend our activity in Russia until further notice. We'll close our stores and e-commerce inside the subsequent 24 hours. The security of our...

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3 Sep

Weekend Briefing: Tremaine Emory’s exit puts pressure on Supreme

by Beautifaire101

Beauty, Featured

Weekend Briefing: Tremaine Emory's exit puts pressure on Supreme - Glossy Sep 3, 2023 • 3 min read ...

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5 Apr

Revlon to Exit Bankruptcy as a Private Company –

by Beauty Tips

Fashion, Featured

Revlon to Exit Bankruptcy as a Private Company –

Revlon is about to emerge from bankruptcy later this month as a non-public company and without Ronald Perelman at its helm, now that a federal judge has approved its plan. The business had been traded on the Latest York Stock Exchange since 1996, when owner MacAndrews & Forbes took it public. But through Revlon’s newly approved bankruptcy plan, ownership stakes will likely be handed to secured lenders, while existing shareholders, including MacAndrews chairman Perelman, who controlled around 85 percent of the corporate as of earlier this yr, will likely be left with nothing. Through the plan, the troubled 90-year-old Latest York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands will eliminate greater than $2.7 billion in debt...

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