VMG Partners jumps on Colorscience
This article was originally published in The Rose Sheet
Executive Summary
Private equity firm's acquisition of luxury mineral makeup brand Colorscience will provide the innovator with brand-building expertise as well as financing, VMG says in Nov. 19 release. "Mineral makeup is one of the fastest growing sectors within the cosmetics industry," Robert Schult, co-founder of VMG Partners, points out. "We chose to work with Colorscience because its creator, Diane Ranger, defined the concept and the industry and has continued to pioneer product advancements." The fact that Colorescience products are distributed through doctors' offices and medical spas was another motivating factor behind the investment, VMG says, noting that "doctors' and celebrities' careers rely upon the quality and effectiveness of the treatments they promote and use." Colorescience and VMG will grow the brand by conducting and releasing clinical trials on the effectiveness of the products, forming a partnership with the Skin Cancer Foundation and obtaining endorsements from celebrities represented by The Firm, a talent and brand-development company for which David Baram, a partner at VMG, serves as director...
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