The time has come for Michelle Phan to say goodbye to the company she co-founded, ipsy, to focus her attention on leading EM Cosmetics.
According to ipsy and Phan, they have entered into a definitive agreement for Divinium Labs, LLC, a company owned by Phan, to acquire EM Cosmetics from ipsy.
Phan was quoted saying, "I’m excited to continue to develop EM Cosmetics for my community. Leading EM Cosmetics will allow me to realize my vision of building a global beauty brand with innovative R&D and increased vertical integration. It’s been fun and rewarding to help build ipsy from the ground up, as we’ve seen creators fundamentally change the face of the beauty industry."
As for the future of ipsy, its CEO and co-founder, Marcelo Camberos, has announced the launch of ipsy Shopper, "a personalized beauty shopping experience, that will launch in November to support our wide variety of brand partners with over tens of thousands of SKUs."