Based on social media posts by Jaclyn Hill, it appears that her makeup brand, Jaclyn Cosmetics, is closing. The beauty influencer revealed on Instagram that the company, owned by Forma Brands, is shuttering “for the foreseeable future.” The news is not entirely unexpected, as owner Forma Brands has been deprioritizing the brand, and Hill, by her own admission, has not supported the business.
WHO: Jaclyn Cosmetics launched in 2019 to leverage the social following of Jaclyn Hill and was backed by Forma Brands. It started with a rocky launch when customers took to social media, slamming the quality of lipsticks for being lumpy and hairy. Customers were refunded, and the brand was relaunched three months later, eventually rolling out into Ulta Beauty in 2021.
WHY: Forma Brands entered Chapter 11 bankruptcy last year after sales failed to meet expectations and debt mounted. In March 2023, they agreed to be acquired by lenders Jefferies Finance and Cerberus Capital Management in exchange for $690 million in debt relief. Emerging from bankruptcy, Forma Brands has been deprioritizing the brand.
Hill has 5.53 million YouTube subscribers and 8.8 million Instagram followers; however, Jaclyn Cosmetics has 548,000 Instagram followers, which brings into question the level of commitment to the venture.
IN THEIR OWN WORDS: Hill wrote in posts on Facebook and Instagram, “There has been plenty of talk, but what I will say is the brand has been such an important chapter in my book and one that I will always cherish but am ready to close. First, I want to thank each and every one of you for the support & love you have shown me & this brand. You let this girl dream and that’s what I did. I still have those dreams, but to properly pursue them I am going to need time and patience to do so.”
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