The information comes following the restructuring of Centric Manufacturers — a serious producer and licensee of greater than 100 manufacturers together with Tommy Hilfiger, Michael Kors and Kate Spade — as a personal equity-backed firm after its submitting for Chapter 11 chapter, as reported by WWD.
“We’re thrilled to welcome Style Magnificence and its group into the Centric Manufacturers household,” mentioned Jason Rabin, chief govt officer of Centric Manufacturers, in an announcement. “This acquisition permits us to faucet into an entrepreneurial, modern and confirmed management group that mixed with our current magnificence division creates the market authority useful resource on this class. It additionally additional strengthens our tub and wonder product providing whereas increasing our leisure licensing platform into complementary classes and properties.”
Based in 2015 by Tom Crowley, Sabrina Vertucci and Alex Fogelson, Style Magnificence merchandise are distributed beneath its personal model, in addition to a portfolio of licenses together with Disney, Common, Nickelodeon, Nestlé and, extra lately, Netflix with a group of “Stranger Issues” items (objects like a waffle-shaped, maple syrup and butter flavored lip balm). Focused to youngsters and nostalgic buyers, main classes embrace lip gloss, nail polish, equipment for nails and hair, tub and physique.
“We’re extremely excited to hitch forces with Centric Manufacturers, leveraging their sources, platform and broad distribution to construct on our development technique within the coming years,” mentioned Fogelson, ceo of Style Magnificence and president of Centric Manufacturers’ magnificence division. “This partnership permits us to supply a good stronger worth proposition to our key retail and licensing companions.”