Gregg Renfrew Is Purchasing Beautycounter Out of Foreclosure

Gregg Renfrew, founder and chief government of Beautycounter, purchased again the clear magnificence line out of foreclosures on April 18. She’s going to retain the model’s identify and belongings; merchandise and formulations will keep the identical. Beautycounter will retain the overwhelming majority of its direct gross sales associates.

Counter Manufacturers LLC, the guardian firm of Beautycounter, is winding down; Renfrew and different non-public traders have secured the label from funding agency Carlyle Group for an undisclosed sum.

Based in 2013, Beautycounter was an early disruptor out there for its clear positioning. The road eschews greater than 2,800 components in its merchandise. That first-mover benefit led to an acquisition by Carlyle Group for $1 billion in 2021. In 2022, Marc Rey, former chief government of Shiseido Americas, was appointed CEO. In February, Renfrew returned Beautycounter to switch him.

The Carlyle Group’s magnificence fundraising has dwindled following a slew of government departures, together with former head of its client and retail group Jay Sammons. He notably left in September 2022 to hitch Kim Kardashian’s newly fashioned non-public fairness agency, Skky Companions.

Operations will likely be paused for 2 weeks, and Beautycounter will formally relaunch on Might 1; present retail partnerships, like these with Ulta Magnificence, will stay intact.

Keep tuned to BoF for updates on this growing story.