Beauty brand named after influencer Jaclyn Hill ceases operations.
Ain't no rest for the wicked, especially for Jaclyn Cosmetics: The beauty biz, headed by social media queen Jaclyn Hill, has recently thrown in the towel and called it quits.
The brand, under Forma Brands, announced its shutdown via an Instagram post thigh-high with emotion, as Hill admitted that Jaclyn Cosmetics has been an essential chapter in her life, but she's ready to flip the page.
Forma Brands, which filched bankruptcy about a year back, owns Jaclyn Cosmetics alongside other brands like Morphe, Playa Beauty, and Bad Habit. Morphe was previously in cahoots with controversial influencer Jeffree Star and charismatic puppy dog James Charles, but they've since parted ways following a string of controversies. Morphe turned its back on Star in 2020, stopping all commercial activity related to his products, and ditched Charles in 2021 after accusations of sexually explicit messages to minors surfaced.
Ariana Grande's R.e.m. Beauty was also once part of Forma's portfolio, but Grande snatched back her beauty brand assets for a cool $15 million back in February.
Forma managed to snag a deal in March, agreeing to be acquired by Jefferies Finance and Cerberus Capital Management for a whopping $690 million.
But even before Forma's acquisition, Jaclyn Cosmetics had a rocky start. Launched in May 2019, the brand dropped several nude lipstick shades, only to be met with criticism from customers who shared photos of the products online. Some claimed the lipsticks were lumpy or spoiled. The brand addressed these concerns in a press release, affirming that while they were sorry for the quality issues, there were no safety concerns related to the lipsticks. They put a pause on production until they could resolve all quality issues, only to return with a new launch later on.
Hill announced in a YouTube video back in August that two of her other brands, jewelry brand Jaclyn Roxanne and loungewear brand Koze, were also shuttering their doors.
Turns out, poor product launches and potential mismanagement in collaborations aren't just bad for your beauty reputation – they can make you as broke as a broken lipstick bullet! 💄💔💰🤔
Enrichment Insight: The failed lipstick launch in 2019 and subsequent quality control issues were significant factors contributing to the closure of Jaclyn Cosmetics. The brand faced criticism for inconsistent product quality, particularly during the launch, with reports of defects such as holes, bubbles, or lipstick breaking upon arrival, which were attributed to manufacturing errors and inadequate quality control measures [1]. Additionally, financial strain and mismanagement in collaborations have played a role in the brand's decline, including a reported $4 million loss from a collaboration gone awry [3].
- Despite her influence and entrepreneurship in the fashion-and-beauty industry, Jaclyn Hill's cosmetics brand, Jaclyn Cosmetics, has faced a bitter end due to the poor reception of their nude lipstick launch in 2019.
- The financial strain of Jaclyn Cosmetics is not just limited to their business misfortunes; their inconsistent product quality has tarnished their reputation, much like a broken lipstick bullet.
- Following the financial acquisition of Forma Brands by Jefferies Finance and Cerberus Capital Management, it's forecasted that the finance of the cosmetics industry will undergo significant shifts in the foreseeable future.
- As an entrepreneur in the lifestyle and cosmetics sectors, Hill has experienced the hardships of business, with not only Jaclyn Cosmetics but also her jewelry brand Jaclyn Roxanne and loungewear brand Koze closing their doors.
- The loss incurred from a collaboration gone awry and the poor management of quality control have been contributing factors to Jaclyn Cosmetics' demise in the competitive world of cosmetics.
- Even with the shutdown of Jaclyn Cosmetics, Hill continues to be an influencer in the fashion-and-beauty world, and it remains to be seen what future ventures she may embark upon.
