What is the story about?
What's Happening?
Drew Barrymore's makeup line, Flower Beauty, is closing as its parent company, Maesa, exits the color cosmetics category. Flower Beauty, launched in 2012, was one of the pioneering celebrity-backed beauty brands, offering affordable products primarily under $15. The brand was available at major retailers such as Walmart, CVS, and Ulta Beauty. Maesa, a brand incubator, announced its decision to focus on its core strengths, which are likely to include hair care and fragrance. The company also manufactures products for other celebrity lines, including Kristen Ess's hair care and Ashley Tisdale's Being Frenshe. Maesa has been divesting from several celebrity-backed brands, including selling TPH to Taraji P. Henson and Andrew Fitzsimmons buying back his line.
Why It's Important?
The closure of Flower Beauty highlights the challenges faced by celebrity-backed beauty brands in a competitive market. While some brands like Hailey Bieber's Rhode and Rihanna's Fenty Beauty have thrived, others struggle to maintain market presence. Maesa's strategic shift away from color cosmetics to focus on hair care and fragrance suggests a realignment with consumer demand trends. This move could impact retailers and consumers who have relied on Flower Beauty's affordable offerings. The decision also reflects broader industry trends where companies are reassessing their portfolios to focus on more profitable and sustainable segments.
What's Next?
Maesa's decision to exit the color cosmetics category may lead to further divestments or strategic partnerships in the beauty industry. Retailers that carried Flower Beauty will need to adjust their product offerings to fill the gap left by the brand's closure. The focus on hair care and fragrance could lead to new product launches or collaborations with other celebrities. Industry observers will be watching how Maesa's strategic pivot influences other beauty incubators and celebrity-backed brands, potentially leading to a reshaping of the beauty market landscape.
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