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Both cosmetic brands announced closures on Instagram on Jan. 22.
January 23, 2026
By: Melissa Meisel
It’s a wrap for two makeup brands: Mally Beauty and CoverFx.
Parent company AS Beauty acquired the brands in 2021 and 2022, respectively, and will now shut them down due to tariff issues and market shifts, according to reports.
Both brands revealed respective closures via Instagram on Jan. 22 at @mallybeauty and @coverfx.
According to reports, the last batch of Cover FX’s products will be sold through its website and Amazon store; Mally Beauty’s final items will be sold on QVC and Amazon.
Mally Beauty was founded by celebrity makeup artist Mally Roncal. Her products were big on QVC and often sold out within an hour.
Founded by medical strategist and beauty veteran Lee Graff, Cover FX started in a Toronto clinic specializing in skin issues and sensitivities. Products were developed to treat and cover every skin type using clean ingredients, said the company.
New York-based AS Beauty is focused on developing global beauty brands that deliver “real-world solutions to a diverse consumer base,” it says.
The company was founded in 2019 by Alan and Joey Shamah, the original founders of Happi Top 50 company ELF Cosmetics, and Victor and Ralph Azrak, who previously ran and sold an apparel business with a dedication to female-founded brands.
As Beauty’s remaining brands after the closure include Laura Geller, Bliss and Julep Beauty.
In other closures news, US-based personal care brand Malin+Goetz will be closing its UK head office, according to reports. This will result in over 70 layoffs.
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