Luxury cosmetics retailer Cos Bar USA has announced that is has signed a definitive agreement to receive an undisclosed investment from specialty private equity firm Tengram Capital Partners.
Founded in 1976, Cos Bar was one of the first independent luxury cosmetics retailers in the US. Today, the company operates 14 stores across the country, all offering a customer focused shopping experience with knowledgeable staff selling across multiple prestige brands.
“Cos Bar has an exceptionally loyal following of customers that return to our stores for the unique, personalized and high-touch experience that differs from the traditional department store experience. The strength of the Cos Bar brand and our exclusive focus on luxury, coupled with Tengram’s deep expertise in retail and beauty, will help the company reach the next level,” said Cos Bar founder Lily Garfield.
“We are thrilled to add Cos Bar to Tengram’s strong and growing portfolio of beauty brands,” commented Richard Gersten, Partner at Tengram. “We evaluate numerous opportunities in the beauty and retail sectors and found Cos Bar to be particularly compelling, given its strong and recognizable brand, high degree of customer loyalty and distinctive positioning. The company has strong growth prospects as luxury beauty consumers are increasingly seeking a more personalized shopping experience outside of traditional department stores.”