Carol Shaw, the Hollywood makeup artist that founded LORAC two decades ago will continue to work with Markwins as lead consultant on the brand.
The deal is Markwins’ fourth major acquisition in 15 years. The firm acquired AM Cosmetics (Wet n Wild, Black Radiance) in 2003, Physicians Formula in 2012, and Aspire Brands' assets Bonne Bell and Lip Smacker in 2015.
"LORAC is the original professional makeup artistry brand, and Markwins is excited to add its unique market-positioning to our expanding brand portfolio," said Stefano Curti, global president of Markwins. "With LORAC, Markwins enters the prestige channel with an iconic Hollywoodmainstay – expert products created under the intuition of makeup legend Carol Shaw, resulting in technologies that compel even the sharpest of beauty enthusiasts' critical eye."
"As the founder of LORAC, a pro artistry brand, I am thrilled to see Markwins re-energizing the brand and taking it to new heights," said Shaw in a statement. "Markwins recognizes the importance of honoring our PRO heritage and continuing to develop high-quality products that create effortless, Red Carpet beauty for which LORAC is known."
"Markwins' expanding success is simple at its core: we respect that different people have different needs. Whether culturally or economically, we understand that we need to satisfy the global consumer by continuing to acquire and develop disparate brands – one brand can't conquer the world," said Eric Sung-Tsei Chen, CEO of Markwins. "With LORAC, we're thrilled to add its distinct Hollywood heritage and celebrity status. I have always had a bias toward California, and LORAC is yet another embodiment of the California beauty spirit."