02.03.22
Its fourth major acquisition since 2019, the purchase will increase the parent company's size by 20% and is expected to boost overall revenue by 40% by 2023. Cover FX joins digital-first brands Laura Geller Beauty, Mally Beauty, and Julep Beauty, which generate over one-third of sales on their direct-to-consumer websites. In addition, AS Beauty maintains strong storefronts on Amazon, which are helmed by an in-house team that delivers best-in-class content.
"The brand is one of the first to sit at the intersection of high-performance color, customization, and skincare,” said Ralph Azrak, chief operating officer of AS Beauty. “The history, quality, and global shade range that Cover FX has offered for over two decades caught our attention right away. In the coming years, we will use our resources to fuel innovation and expand our audience. We are thrilled to bring this brand on board and continue to be on the lookout for new opportunities."
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. As the line between professionals and increasingly savvy consumers continues to blur, Cover FX invites everyone to participate in the creative process using adaptable formulas and tools designed to amplify their unique beauty.
"Whether we're talking about makeup artists or people who just want to enhance their natural beauty, our range of products makes everyone feel confident," said Graff. "We believe that personalized beauty should be inclusive and accessible to all."
Boasting over 3 million followers across all of its social platforms, AS Beauty’s addition of fellow cruelty-free, good-for-skin brand, Cover FX to its growing portfolio will maximize its audience base, according to company officials. AS Beauty credits much of its success to creating emotional connections with customers who are typically overlooked in the industry. The company is known for its viral social media content and groundbreaking campaigns with celebrities like Fran Drescher and Paulina Porizkova. Laura Geller Beauty's latest holiday campaign featuring Porizkova generated 166 million media impressions, including over 10 editorial features in publications such as People, Good Morning America and NewBeauty.