After twelve years of partnership, Kat Von D Beauty announced that founder Kat Von D has sold her ownership stake and made a full departure from the brand, making Kendo the sole owner of the business.
WHO: The brand launched in 2008 with four red lipsticks. Today, KVD Vegan Beauty has more than 250 innovative products in almost every beauty category. It is sold globally, in every major market, in 36 countries around the world, primarily at Sephora and the brand’s website.
Kendo is the Louis Vuitton Moët Hennessy-owned beauty incubator that creates and acquires beauty brands and turns them into global powerhouses: Fenty Beauty by Rihanna, Ole Henriksen Skin Care, Marc Jacobs Beauty, Bite Beauty, Lip Lab Stores, and KVD Vegan Beauty. Kendo offices are in San Francisco, Paris, Dubai, London, Sydney, and Singapore.
IN THEIR OWN WORDS: David Suliteanu, CEO of Kendo, said in a statement, “I want to thank Kat for helping to change the beauty industry with us. The products we created together have stood the test of time and become icons. Kendo, along with our global retail partner, Sephora, look forward to the continued growth of KVD Vegan Beauty under Kendo’s leadership, ownership, and direction. We are fully positioned to continue the brand’s growth and development in both product and marketing. We have developed a very strong product pipeline for 2020 and beyond. The same Kendo team that made history with KVD Vegan Beauty is ready to do it again. ”
Kat Von D, founder and artist, explained, “This past year has been one of great change for me. As many of you know, I gave birth to my beautiful baby boy, launched my vegan shoe line, and am now busy prepping to release my long-awaited album in the Spring, followed by an international tour! As much as I wish I could balance all of this, on top of continuing my makeup line, it has become clear to me that I just can’t do everything at the maximum capacity. With that said, I’ve decided to step down as founder (and from all other capacities) of Kat Von D Beauty, and sell my shares of the brand, turning it all over to Kendo, my partners for the past 12 years. This was not an easy decision, but after careful consideration, I decided I wanted the makeup line to continue to thrive and grow, and Kendo is primed to do just that.”
- Founder Kat Von D has sold her ownership stake in Kat Von D Beauty and made a full departure from the brand, making Kendo the sole owner of the business.
- Terms of the transaction were not disclosed.
- Effective immediately, the brand will now be called KVD Vegan Beauty.
Photo: via LVMH