Ariana Grande buying back her cosmetics brand R.e.m. Beauty for $15 million
Ariana Grande is set to regain control of her vegan cosmetics brand, R.e.m Beauty, which launched in November 2021. The 29-year-old American singer has signed an agreement to acquire the assets of her brand from Forma Brands, her licensee, which on January 13 filed for Chapter 11 bankruptcy protection, under US law. This filing allows the company to continue to operate until a restructuring plan is approved.
The deal between Ariana Grande and Forma Brands, which must first be approved by a Delaware court judge, involves the brand's physical assets as well as existing inventory, and is reportedly valued at $15 million (€13.7 million) according to Bloomberg.
This change of hands comes as R.e.m Beauty will be released in Europe on February 13 via Sephora. The brand will be available in 81 European shops of the LVMH group's perfume chain as well as thirteen Sephora e-shops.
Since 2020, Forma Brands has been responsible for the development, manufacturing and marketing of Ariana Grande's products. The space-inspired label debuted in shops such as Ulta Beauty, and was a top seller for the chain in the first quarter of 2021. According to Forma Brands' projections, R.e.m. Beauty reached $84 million in 2022.
A sort of incubator for young beauty labels, Forma Brands, which includes Morphe, Bad Habit, Lipstick Queen and Playa Beauty, indicated at the time of its Chapter 11 filing that it was in the process of securing a definitive asset purchase agreement with some of its creditors.
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