THE WHAT? Forma Brands, new parent company of Morphe, has announced the acquisition of Lipstick Queen, according to a report by WWD.com.
THE DETAILS The new purchase will see the brand – well known for its Frog Prince shade that turns from green to pink – sit alongside other stablemates including Playa, acquired earlier this year.
THE WHY? According to industry sources, the acquisition of Lipstick Queen is part of Forma Brands plans for global expansion.
The parent company is said to be aiming to incubate its own brands while looking to make further acquisitions, as well as helping to run back-end operations for others such as Jaclyn Cosmetics.