On April 18, Beautycounter, a well-known clean beauty brand, was bought back by founder and CEO Gregg Renfrew.
Beautycounter was founded in 2013 by Greg Renfrew as a clean beauty brand in the U.S. that eliminates more than 2,800 ingredients in its products. in 2021, the investment firm Carlyle Group, which has given the brand a $1 billion valuation and acquired a majority stake in the company.
Since then, however, sales of beauty counters have slumped, and the Carlyle Group hoped to sell Clean Beauty. They were reportedly looking for interested companies with the help of Goldman Sachs. In 2022, Marc Rey, former CEO of Shiseido Americas, was appointed CEO of Beautycounter, and Renfrew returned as her successor as CEO in February of this year.
According to multiple sources, Beautycounter’s parent company, Counter Brands LLC, has now already closed and Renfrew and other private investors have acquired the brand from the investment firm Carlyle Group for an undisclosed price. Renfrew will retain the Beautycounter name and assets, and the products and formulas will remain intact. The company’s existing retail partnerships, including its partnership with Ulta Beauty, will also remain intact.
The official website is now closed, and the company has stated, “The Beautycounter business that you knew previously has wound down. However, I am excited to share the news that I am creating a new company that will allow us to sell the products you know and love- pushing forward the important mission of making the industry, and our world, safer and healthier.”
“A new Beautycounter is on its way! As we get the new company up and running, we are taking a short pause to build for the future and, most importantly, to better serve you all. Thank you for being a part of our community and movement– we will see you again in early May. More to come!”
The Beautycounter will officially reopen on May 1.