The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The American division of the luxury cosmetics company seeks Chapter 11 protection due to its heavy store network, which includes 166 locations in the US. The company plans to close 23 stores through the restructuring, after “repeated endeavors to engage with its landlords to address unmanageable store lease terms,” according to a press release. While beauty was one of the most resilient categories during the pandemic, the sales growth happened online, putting pressure on brands and retailers that rely on costly store networks.
Black founders carry a markedly higher burden when it comes to educating investors on the value and viability of their business ideas — but there is an art and science behind knowing when your brand is ready and what kind of investors will be the best fit.
Landing a retail partnership is often seen as a major milestone for beauty founders — but it brings a bevy of new challenges, from the logistical complexities to setting a marketing budget. Black entrepreneurs, who typically have far less capital to work with, often face tough choices.
The firm has been working on a listing since at least 2022, with previous attempts buffeted by volatile markets.
In a three-part series, The Business of Beauty explores how Black founders Monique Rodriguez, Danessa Myricks and more built, launched and scaled their multi-million-dollar businesses. In part one, a look at how these entrepreneurs found their niche and harnessed early lessons that were critical to their growth