05.23.23
Ariana Grand’s REM Beauty has announced a strategic investment led by Sandbridge Capital. The investment also included participation from Strand Equity and long-term Grande collaborators HYBE America, Live Nation Entertainment and Universal Music Group.
Grande recently reached an agreement to purchase assets tied to the brand from Forma Brands in a deal that is valued at approximately $15 million. Forma filed for Chapter 11 earlier this year in the US Bankruptcy Court for the District of Delaware.
"This has been a truly inspiring time for me as a founder, turning my passion for art, self-expression and makeup into reality and watching r.e.m. beauty find its wings, especially now during this new era for the brand. I'm thrilled to have these amazing partners join us at this time, supporting our vision and expansion so that fans worldwide can continue to grow with us and enjoy our products. This next chapter could not be more exciting, and I can't wait for everyone to see what is yet to come," said Grande in a statement.
Forma Brands launched REM Beauty in November 2021. Grande's brand was successful, earning accolades such as Allure's "Best Mascara" within its annual Best of Beauty Awards, Allure's Reader's Choice for "Best New Brand" and "Best Liquid Eyeliner" within Cosmopolitan's 2023 Holy Grail Beauty Awards.
REM Beauty is available on rembeauty.com and currently distributed exclusively at Ulta Beauty in the US, Sephora across Europe, and Selfridges in the UK.
The brand will continue to focus on its core markets, with further expansion plans to be announced, executives announced today.
"I joined Ariana and REM Beauty because I believe in both Ariana's overall vision and the brand's fundamental values, which will be at the core of everything we do," said Michelle Shigemasa, who was recently appointed CEO of the beauty brand. "This bespoke partnership with Ken Suslow and the Sandbridge team opens a world of opportunities for r.e.m. beauty to supercharge our growth through focused investment and further scale r.e.m. beauty's already highly engaged audience of beauty enthusiasts. The best is yet to come!"
"REM Beauty has earned the trust of the beauty community and consumers alike by creating an impressive best-in-class line of products inspired by Ariana's compelling mission driven brand vision," said Suslow, Sandbridge Capital Founder and Managing Partner. "We are thrilled to come together with Ariana and her stellar r.e.m. team in support of the brand's strong growth trajectory through our global industry network and brand building expertise."
Sandbridge Capital’s other investments include Ilia, Youth to the People, Peach & Lily and U Beauty, among others.
Grande recently reached an agreement to purchase assets tied to the brand from Forma Brands in a deal that is valued at approximately $15 million. Forma filed for Chapter 11 earlier this year in the US Bankruptcy Court for the District of Delaware.
"This has been a truly inspiring time for me as a founder, turning my passion for art, self-expression and makeup into reality and watching r.e.m. beauty find its wings, especially now during this new era for the brand. I'm thrilled to have these amazing partners join us at this time, supporting our vision and expansion so that fans worldwide can continue to grow with us and enjoy our products. This next chapter could not be more exciting, and I can't wait for everyone to see what is yet to come," said Grande in a statement.
Forma Brands launched REM Beauty in November 2021. Grande's brand was successful, earning accolades such as Allure's "Best Mascara" within its annual Best of Beauty Awards, Allure's Reader's Choice for "Best New Brand" and "Best Liquid Eyeliner" within Cosmopolitan's 2023 Holy Grail Beauty Awards.
REM Beauty is available on rembeauty.com and currently distributed exclusively at Ulta Beauty in the US, Sephora across Europe, and Selfridges in the UK.
The brand will continue to focus on its core markets, with further expansion plans to be announced, executives announced today.
"I joined Ariana and REM Beauty because I believe in both Ariana's overall vision and the brand's fundamental values, which will be at the core of everything we do," said Michelle Shigemasa, who was recently appointed CEO of the beauty brand. "This bespoke partnership with Ken Suslow and the Sandbridge team opens a world of opportunities for r.e.m. beauty to supercharge our growth through focused investment and further scale r.e.m. beauty's already highly engaged audience of beauty enthusiasts. The best is yet to come!"
"REM Beauty has earned the trust of the beauty community and consumers alike by creating an impressive best-in-class line of products inspired by Ariana's compelling mission driven brand vision," said Suslow, Sandbridge Capital Founder and Managing Partner. "We are thrilled to come together with Ariana and her stellar r.e.m. team in support of the brand's strong growth trajectory through our global industry network and brand building expertise."
Sandbridge Capital’s other investments include Ilia, Youth to the People, Peach & Lily and U Beauty, among others.