New York–based AS Beauty is shutting down Mally Beauty and Cover FX.WHO: Mally Beauty was founded by makeup artist Mally Roncal to spread her message that “What makes you different makes you beautiful.” The collection, which first debuted on QVC in March 2005, infuses the knowledge and expertise Mally gained while spending 15 years on the road with some of the biggest celebrities in the world. Created for busy women of all ages who don’t have time for midday touch-ups, the high-quality products deliver long-lasting results that make women feel comfortable and confident in their own skin.Based in New York, AS Beauty is focused on developing global beauty brands that deliver real-world solutions to a diverse consumer base. Founded in 2019 by Alan and Joey Shamah, the original founders of e.l.f. Cosmetics, and Victor and Ralph Azrak, who previously ran and sold an apparel business, the company’s current portfolio consists of Bliss, Julep Beauty, and Laura Geller. What sets AS Beauty apart is its dedication to female-founded brands that tell a unique story while making the latest innovations accessible.WHY: The announcement, made on Instagram, cited mounting pressure from market shifts and rising industry costs.DETAILS:AS Beauty is shuttering Mally Beauty.In 2021, AS Beauty acquired Mally Beauty from Beauty Visions.In March 2018, Beauty Visions, owner of Mally Beauty, sold a minority interest to Guthy-Renker Ventures in the business.The brand was acquired in 2015 by Beauty Visions for $10 million to cover its debts amid its bankruptcy.