Report: Beautycon Forecloses

Sep 7th, 2021

Jacquelyn Schlabach

Moj Mahdara was the CEO of Beautycon before it foreclosed.

Moj Mahdara was the CEO of Beautycon before it foreclosed.

L.A.-based live events company Beautycon has foreclosed, according to The Wrap News. All of the organizers staffers have reportedly been laid off and Beautycon's assets were sold to Richelieu Dennis’ Essence Ventures in a foreclosure sale.

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The publication reports that the website is no longer active.

Beautycon's final live event under the past leadership was in 2019 an featured Priyanka Chopra, Kelly Rowland and other celebrities.

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'I am thrilled to join a fantastic team, savvy founder, and innovative business backed by one of the best strategic partners in the clean beauty space, Sandbridge Capital,' said de Metz. 'Our vision is to bring ingredient transparency and safer products to fine fragrance consumers globally, and I look forward to building the future of beauty with Henry Rose.'

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"I am thrilled to join a fantastic team, savvy founder, and innovative business backed by one of the best strategic partners in the clean beauty space, Sandbridge Capital," said de Metz.

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Il Makiage and SpoiledChild owner Oddity has posted Q1 net revenue of $212 million, up 28% year-over-year.

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Coty has added a new license to its stable of fragrance brands, building on recent success in mass and prestige sectors.

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Coty witnessed growth in prestige and consumer beauty, as well as an uptick in China's prestige sector in its latest quarter.

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Prestige net revenues in Q3 increased 8% on a reported basis and 13% on an LFL basis, per Coty, driven by fragrances, cosmetics and skin care, though slightly offset by the divestiture of the Lacoste license and foreign exchange impacts.

Dose & Co was founded in 2019 by Libby Matthews and has since sold 4 million tubs at more than 5,000 distribution points.

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Silvia Galfo was previously the first chief growth officer for the luxe division in the United States.

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“With our third quarter results and fourth quarter outlook, we are confident that the second half of fiscal 2024 will prove to be an inflection point for our company performance,' said Fabrizio Freda, president and CEO.

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Mainland China, a challenge amid lingering economic and COVID-19 challenges, grew net sales in the latest quarter, though the prestige sector remains soft, per the company.