07.02.23
San Francisco, CA
https://formabrands.com
Sales: $285 million
Key Personnel: Cliff Moskowitz, chief executive officer; Simon Cowell, president
Major Products: Beauty and fragrance brands include Morphe, Morphe 2, Jaclyn Cosmetics and Lipstick Queen
New Products: Morphe Continuous Prep & Set Mist+
Comments: After filing for bankruptcy in in late 2022, Forma Brands LLC in April completed the previously announced sale of substantially all of the company’s assets to an investor group that include Jefferies Finance LLC, funds managed by Cerberus Capital Management, L.P., FB Intermediate Holdings, LLC, and consumer brand investment company &vest. The company also has a new CEO—Cliff Moskowitz—who comes to the post from &vest, where he was an operating partner. Moskowitz brings more than 20 years of experience in the retail industry, previously serving as the CEO of Outdoor Voices and managing InterLuxe Holdings, where he drove operational improvements and led investments in world-class retail brands including Jason Wu.
While the company is ready for a reset after its bankruptcy, Forma moves forward without one of its more well-known brands, R.E.M. Beauty. Ariana Grande acquired the assets — including all inventories, unfilled purchase orders, returns and more—for a reported $15 million.
https://formabrands.com
Sales: $285 million
Key Personnel: Cliff Moskowitz, chief executive officer; Simon Cowell, president
Major Products: Beauty and fragrance brands include Morphe, Morphe 2, Jaclyn Cosmetics and Lipstick Queen
New Products: Morphe Continuous Prep & Set Mist+
Comments: After filing for bankruptcy in in late 2022, Forma Brands LLC in April completed the previously announced sale of substantially all of the company’s assets to an investor group that include Jefferies Finance LLC, funds managed by Cerberus Capital Management, L.P., FB Intermediate Holdings, LLC, and consumer brand investment company &vest. The company also has a new CEO—Cliff Moskowitz—who comes to the post from &vest, where he was an operating partner. Moskowitz brings more than 20 years of experience in the retail industry, previously serving as the CEO of Outdoor Voices and managing InterLuxe Holdings, where he drove operational improvements and led investments in world-class retail brands including Jason Wu.
While the company is ready for a reset after its bankruptcy, Forma moves forward without one of its more well-known brands, R.E.M. Beauty. Ariana Grande acquired the assets — including all inventories, unfilled purchase orders, returns and more—for a reported $15 million.