Beautycounter Regains Independence: Gregg Renfrew Reacquires Brand from Carlyle Group

Beautycounter Regains Independence: Gregg Renfrew Reacquires Brand from Carlyle Group

THE WHAT?   Gregg Renfrew, founder and chief executive of Beautycounter, has successfully repurchased the clean beauty company from foreclosure, regaining control over the brand on April 18. Renfrew will maintain the brand’s original name, product lines, and the majority of its direct sales associates.

THE DETAILS  Following the wind-down of Counter Brands LLC, Beautycounter’s parent company, Renfrew teamed up with other private investors to secure the brand from the Carlyle Group for an undisclosed amount. This strategic move comes after Beautycounter’s notable market impact as a clean beauty pioneer since its inception in 2013, which originally led to its acquisition by Carlyle for US$1 billion in 2021. Despite leadership changes, including the brief CEO tenure of Marc Rey from Shiseido Americas, Renfrew reassumed her leadership role earlier this year to steer the company back to its core mission.

THE WHY? This acquisition not only signifies a full-circle moment for Renfrew but also reflects broader shifts within the beauty industry towards sustainability and consumer trust. The move is set against a backdrop of challenges within Carlyle’s beauty investment strategy, marked by dwindling fundraising efforts and significant executive turnovers, including Jay Sammons’ departure to Kim Kardashian’s Skky Partners. Beautycounter’s brief operational pause will culminate in a relaunch scheduled for May 1, with continued partnerships such as with Ulta Beauty expected to bolster its market presence post-transition.

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