Sales: $398 million (estimated).
Key Personnel: Eric Chen, chairman and chief executive officer; Michael Shaw, chief operating officer; Stefano Curti, global president.
Major Products: Skin care and color cosmetics brands that include Physicians Formula, Black Radiance, Bonne Bell, Lip Smackers, Tropez, The Color Workshop and Wet ‘n’ Wild.
New Products: Lorac Cosmetics (acquisition).
Comments: Markwins’ bread and butter is mass beauty, a category that’s starving for attention these days as women shop online and opt for indie brands. The company hopes to get back on track with Lorac Cosmetics, a professional beauty brand it acquired last month for an undisclosed price.
“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 Hollywood mainstay—expert products created under the intuition of makeup legend Carol Shaw, resulting in technologies that compel even the sharpest of beauty enthusiasts’ critical eye.”
Lorac Cosmetics was founded two decades ago by Shaw after she saw the need to develop products that wouldn’t irritate her celebrity clients’ sensitive skin. Her line of professional formulations are said to contain skin-friendly ingredients. Shaw will continue to work with Markwins as lead consultant on the brand.
According to Markwins, the acquisition of Lorac, which it calls a prestige consumer brand, rounds out its strategic portfolio of non-competing lines, which include masstige brand Physicians Formula, entry point brand Wet n Wild, ethnic brand Black Radiance, and youth brand Lip Smacker.
“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 Markwins CEO Eric Chen. “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.”