One of the largest privately owned beauty companies, Markwins Beauty Brands, continues to build their portfolio with the acquisition of Lorac Cosmetics. Where many in the industry considered Lorac distressed, turnaround specialist Markwins sees opportunity.
WHO: Lorac Cosmetics was founded in 1995 by Hollywood beauty legend and professional makeup artist Carol Shaw after she saw the need to develop products that wouldn’t irritate her celebrity clients’ sensitive skin. What resulted was a line of professional, red-carpet-ready formulations with skin-friendly ingredients available to all.
Markwins Beauty Brands is a global leader in beauty and cosmetics. The company, founded in 1984 by CEO Eric Sung-Tsei Chen, is distinguished by groundbreaking product innovation, reimagined go-to-market strategies, and leading-edge supply-chain dynamics. From humble, disruptive origins, the company—famous early as the pioneer of compact palettes and gift sets—stands today as one of beauty’s largest privately held firms and is recognized within the industry as a top “brand builder.”
WHY: Lorac rounds out Markwin’s already well-established mass beauty portfolio with the addition of this prestige brand. Lorac’s prestige consumer brand joins its masstige brand Physicians Formula, industry-leading entry point brand wet n wild, leading ethnic brand Black Radiance, top youth brand Lip Smacker, and its successful collection business to continue to cater to an all-inclusive consumer base.
IN THEIR OWN WORDS: “Lorac is the original professional makeup artistry brand, and Markwins is excited to add its unique market-positioning to our expanding brand portfolio,” said Stefano Curti, Global President of Markwins. “With Lorac, Markwins enters the prestige channel with an iconic Hollywood mainstay—expert products created under the intuition of makeup legend Carol Shaw, resulting in technologies that compel even the sharpest of beauty enthusiasts’ critical eye.”
“As the Founder of Lorac, a Pro Artistry brand, I am thrilled to see Markwins re-energizing the brand and taking it to new heights,” said Shaw. “Markwins recognizes the importance of honoring our PRO heritage and continuing to develop high-quality products that create effortless, Red Carpet beauty for which Lorac is known.”
“Markwins’ expanding success is simple at its core: we respect that different people have different needs. Whether culturally or economically, we understand that we need to satisfy the global consumer by continuing to acquire and develop disparate brands—one brand can’t conquer the world,” said Eric Sung-Tsei Chen, CEO of Markwins. “With LORAC, we’re thrilled to add its distinct Hollywood heritage and celebrity status. I have always had a bias toward California, and LORAC is yet another embodiment of the California beauty spirit.”
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