02.27.23
REM Beauty tapped a new chief executive officer. Michelle Shigemasa will be taking the lead at REM, which was founded in 2021 by Ariana Grande.
Shigemasa previously served as the global CEO of Murad. Prior to that, she spent 13 years at Happi Top 50 company Smashbox.
This news comes weeks after Forma Brands, which also owns Morphe cosmetics, filed for Chapter 11 Bankruptcy in the US Bankruptcy Court for the District of Delaware.
Shigemasa previously served as the global CEO of Murad. Prior to that, she spent 13 years at Happi Top 50 company Smashbox.
Beauty Deal with Forma Brands
Earlier in the month, Happi reported that Ariana Grande has reached an agreement to purchase assets tied to REM Beauty from Forma Brands in a deal that is valued at approximately $15 million.This news comes weeks after Forma Brands, which also owns Morphe cosmetics, filed for Chapter 11 Bankruptcy in the US Bankruptcy Court for the District of Delaware.