The Happi Staff09.20.19
Fashion Fair Cosmetics, Johnson Publishing’s iconic beauty line for Black women, will be auctioned next month. According to sources, more than a dozen companies have expressed interest in the brand.
But observers note that with celebrities such as Rihanna and Kim Kardashian West now in the space, Fashion Fair faces and uphill battle for market share. Still, potential buyers may lured by the company's rich heritage. Founded in 1973, Fashion Fair was once the largest Black-owned cosmetics company in the world. At its peak in 2003, Fashion Fair did $56 million in total sales, according to Fortune.
But that was then, and this is now. Fashion Fair filed for Chapter 7 bankruptcy in April. The auction is being handled by Hilco Streambank, an advisory firm.
But observers note that with celebrities such as Rihanna and Kim Kardashian West now in the space, Fashion Fair faces and uphill battle for market share. Still, potential buyers may lured by the company's rich heritage. Founded in 1973, Fashion Fair was once the largest Black-owned cosmetics company in the world. At its peak in 2003, Fashion Fair did $56 million in total sales, according to Fortune.
But that was then, and this is now. Fashion Fair filed for Chapter 7 bankruptcy in April. The auction is being handled by Hilco Streambank, an advisory firm.