Chico's FAS: The retailer's problems started long before the pandemic. Another legacy brand that might end up on the chopping block is J.C. Penney. And there is now even a sustainable option for sheet mask enthusiasts: the Korean brand andLABs moisturizing Biodegradeable Niacinamide 2% + B5 Hydrating Face Mask ($6), which is entirely compostable and housed in a recyclable pouch. Matter: Cult-favorite ethical fashion brand Matter announced Monday that "after several months of uncertainty," it had made the decision to close. Becca Cosmetics peaked in the mid-2010s with its Shimmering Skin Perfectors and it's what the brand will be remembered for. G-Star Raw: G-Star Raw, another established Los Angeles-based denim brand known for its dedication to sustainability, also filed for Chapter 11 Friday. Celebrity-led brands like Rihanna's Fenty Beauty and KKW Beauty by Kim Kardashian West released highlighter palettes of their own as did industry staples like Huda Beauty, Glam Glow, Kat Von D (now KVD Beauty), and Anastasia Beverly Hills (its Aurora Glow Kit would become a cult-favorite). And those people are teenagers, 2020, killjoy that it was, might have taken out Party City, the retailer whose name says it all. Or how about a restock of 2021 Best of Beauty-winning Power Move Hydrating Soft Matte Lipstick? Curious about the brands that will be all over beauty shelves this year? Nordstrom recently began carrying PAUSE, a brand that focuses on well-aging (by delivering products that help make menopause better). The company followed through on its reopeningbut who knows how long its second act will last in this climate. Can the brand manage to stay relevant? It's always a sad day in the beauty world when a beloved brand decides to shut down. The company is shutting down all of their 18 stores in the U.S., 10 of which are in California. RTW Retailwinds Inc.: The parent company of New York & Co.,RTW Retailwinds Inc., filed forChapter 11 bankruptcy in New Jersey on Monday. It is made from human-grade ingredients without preservatives. Three years later, Becca's biggest collaborator became a major competitor when Hill launched her own collection of highlighters in 2019. Can Amazon Continue Its Incredible Run in 2021? "The second is the Geneo Personal Facial Device Kit which is a deep cleansing tool for the skin.". Neither retailer has made a public announcement yet; we've reached out to a rep for both for comment. I predict OfficeDepot will have to close stores and develop a robust e-commerce platform, with competitive price models, to stay afloat., Take a Look:States Where the Most Workers Are Headed Back to the Office. Shiseido closes sale of beauty brands bareMinerals, Buxom and Laura Mercier By Becky Bargh 7-Dec-2021 Colour Cosmetics | Finance Deal is estimated to be worth $1.5bn, as beauty giant moves in on wellness category bareMinerals, Buxom and Laura Mercier brands have been taken over by new company AI Beauty The graphical text went on: "You're all our Becca family part of this beautiful community that supports us and shares our values. You can click on the 'unsubscribe' link in the email at anytime. The pandemic made the last year a precarious one for many industries, beauty included. 2023 GOBankingRates. The classic Harley-Davidson motorcycles simply do not have any of the characteristics that younger consumers are looking for these days automation and convenience, said Arnas Vasiliauskas, chief innovation and product officer of, . (2016) Insurance industry in the U.S. - statistics & facts | Statista Centric Brands: This licensee company, which recently bought Zac Posen and produces products for Tommy Hilfiger, Under Armour, Calvin Klein and more filed for Chapter 11 on Monday May 18. Second, Bite Beauty is working on clearing out its inventory online, and with that comes a closure sale. The brand eventually released Processo Pop as its own standalone shade even though Hill was a co-creator of it. Simply take a gander at some results from using the product on its website. For a more potent treatment, theres Kloranes new volumizing Oil Control 2-in-1 Mask Shampoo Powder With Nettle ($26 for 8 sachets), which lathers with just a few drops of water and is packaged in biodegradable pouches. While the impact of Covid may have given OfficeDepot a slight boost due to the vast amount of people working from home and or needing additional work or school supplies, according to OfficeDepot Inc.s annual report (ending December 2019), their stock was on a consistent decline (from $100 in Dec. 2014 to $33.53 in December 2019)., As of January 7, shares of the ODP Corporation (parent of OfficeDepot Office Max) are priced at $37.02. For instance, some of the of-the-moment high-tech tool brands on the market include TriPollar, 111Skin, and Shani Darden Skin Care, which offer devices and tools that lift and tone the face. (The New York Times reported in June that it had been looking for a buyer for its factories.) Top that off with a global pandemic, and it's not surprising to see the brand is closing down. The Highlight of Our Lives Becca Cosmetics Is Going Out of Business The beloved makeup brand, best known over the last two decades for its industry-influencing highlighters, announced it will be. It grew 5.5% in 2018 with niche segments rising . The beleaguered cinema chain went on to raise $104 million after selling some 38 million of 200 million in shares. So far this year big names in beauty have either made plans to tap the public markets or found a buyer. All rights reserved. Shiseido closes sale of beauty brands bareMinerals - Cosmetics Business What you won't find in the products are things like harsh sulfates, parabens, and silicones. Still strapped for cash, AMC said at the end of December that it planned to raise $125 million by selling 50 million shares. Shop Pay is an innovative payment solution developed by Shopify. If you're not sure what to snag from the brand, shop its bestsellers below. L'Oreal sales rebound as beauty business shifts online in pandemic - CNBC These rumblings intensified in 2017 when @trendmood1, an Instagram account best known for leaking beauty launches, claimed Prosecco Pop (a color Hill collaborated on) would be re-released as a standalone shade. However, there are still potential headwinds for Tiffany. Kenmore, its household appliance brand, has taken the brunt of the beating, going from once-revered brand to the scrap heap as CNN reported in 2018, Even during the pre-pandemic days, Sears was searching for a buyer but to no avail, said Michael Hamelburger, CEO of, After a tennis match of legalities, the two companies finally agreed on terms of a new contract giving hope that the retailer will be saved, Shelton, Jr. said, . 1:02. Lucky Brand: After 30 years in business, Los Angeles-based denim label Lucky Brand filed for Chapter 11 bankruptcy protection on Friday, July 3 in Delaware, according to Associated Press. Amid a rocky year that saw significant earnings loss, Harley-Davidson announced a five-year strategic plan that would entirely overhaul its business with the goal of driving profit and shareholder value. Direct-to-consumer (D2C) cosmetics brand BH Cosmetics filed for Chapter 11 bankruptcy in the middle of January 2022. Throughout social media, fans of the brand responded with shock and dismay. BECCA is one of my favorite high end beauty brands, so this one stings a little bit more. Penney had already had its share of tumultuousness, said C. Street, principal at CStreet Creative. Jessica Alba's Honest Company is planning for a valuation of $1.5 billion in an IPO, Reuters . Anyone can read what you share. Some of these brands simply couldnt keep up with beauty trends, others may have fallen under during times of economic recession. "Its remarkable multi-tasking formulations can go head to head with professional brands based on the potent level of actives and compounds, formulated to deliver real results," she says. Additionally, she notes that the protein that the brand created for hair is excellent in restoring health to damaged strands and irritated scalps. Remember Friendster and MySpace, two early social media sites doomed to obscurity as Facebook and Twitter rose to prominence? Becca released a photo of its Skin Love Weightless Blur foundation swatched on four different hands for customers to see the different shades available. Warning: Expect to see Pietro Simone everywhere in no time. Drunk Elephants Baby Juju Bar + Baby Pekee Bar Duo ($22), for example, is a pair of long-lasting and gentle cleansing bars a nourishing everyday formula and a clarifying exfoliating one that can be purchased along with a reusable travel case. The brand, which debuted in 2001, had success with cult-favorite highlighters in the mid-2010s. It plans to close most, if not all of its 281 stores and has already begun liquidation sales. It's clear the Shimmering Skin Perfector was Becca's biggest success, but it's one that couldn't be replicated. Another brand that may not survive 2021 is OfficeDepot OfficeMax, Street said. If you miss the sale today, check back on the blog because Ill be watching future markdowns closely. Brands like The Este Edit and Obsessive Compulsive Cosmetics were really ahead of the trends at the time, so those were closures that took me a bit by surprise. From smaller brands without the cushion to weather a major drop in sales, to large retail chains that were saddled with debt before all this began, read on for a digital graveyard of all the fashion and beauty businesses that succumbed to the coronavirus and its negative impact on consumer spending. J.C. Penney: Long-struggling department store chain J.C. Penney filed for Chapter 11 bankruptcy protection on May 15. Background photo: Shutterstock. is seeking a new CEO to replace Jill Soltau, who left the position, effective on Dec. 31, 2020. The Average Retirement Age in Every State, Amazon Is Opening Two Grocery Stores on East Coast and Hiring, 7 Jobs for Stay at Home Moms That Make Real Money. The beleaguered cinema chain went on to raise $104 million after selling some 38 million of 200 million in shares. Between its sought-after hyaluronic serum to its refreshing hydrating face mist, the brand's luxe products deliver ultimate hydration and a beautiful glow. Plus, Telfar Clemens is named to Fortune's 40 under 40. List of Retail Company Bankruptcies & Closing Stores - CB Insights Research According to WWD, it will continue to operate online for the foreseeable future. Bed Bath & Beyond BBBY -8% filed for bankruptcy on April 23, according to the Wall Street Journal. Bathing Culture Mind and Body Wash, $35, bathingculture.com. When the entrepreneur struggled to find formulas that were free of harsh chemicals, synthetic fragrances, and damaging toxins, she began creating her own. Sign up for by Morning Brew to get the best recs for smarter living "Of the most popular products is their neck treatment line Nectifirm, especially in the Zoom era," she says. J.Hilburn: Another brand in the bankruptcy club as of May 6is J.Hilburn, a Dallas-based custom menswear retailer. Since the pandemic has killed most normal public gatherings, it has dampened those few celebrations that do happen. Things continued to spiral downward for the brand, and in 2018, it closed its last manufacturing plant. According to preliminary results released by the company, net sales fell in the Americas and Europe. retailers. Cushnie: On Oct. 29, Carly Cushnie announced the closure of her namesake brand in the New York Times,citingpandemic-related financial strains as the reason. The color skyrocketed sales. To stay in business for a long time, they will have to innovate and focus more on online than retail so they can weather unexpected storms such as the one that happened this year.. So, the photography-centric Kodak we all knew growing up may be over, but it looks like theres a booming future for a new and possibly improved pharmacy-centric Kodak. It elevated the entire category of highlighters, inspiring other brands to create their own. Your email address will not be published. Join The Zoe Reports exclusive email list for the latest trends, shopping guides, celebrity style, and more. Kevin Mazur/Getty Images for Fenty Beauty, NOW WATCH: How COVID-19 is impacting Marine Corps basic training at Parris Island where some recruits tested positive for the virus, Shimmering Skin Perfector highlighter in Champagne Pop, units were sold within the first 20 minutes of its launch on Sephora.com, was the best-selling highlighter in the US in 2019, $3.5 million in sales within just five hours, Hill launched her own collection of highlighters in 2019. over 2,400 glowing reviews, with many being five-stars. 15,000+ brands . The company did post record net sales in the holiday-driven 4th quarter. Iconic US Businesses That Filed for Bankruptcy in 2020, How Your 2021 Finances Will Look the Same (and Different) Compared to 2020, States Where the Most Workers Are Headed Back to the Office, 15 Times You Should Splurge, Settle or Skip When Shopping, 20 Home Renovations That Will Hurt Your Homes Value, Everything You Need To Know About Taxes This Year. While we are devastated over the news, we understand why. In total, AMC managed to raise $204 million in December, but as of early January, CEO Adam Aron said that the company needs $750 million to survive the pandemic. Here we list our favorites to shop right now. Rebecca Morrice Williams founded Becca Cosmetics in 2001, and the brand proceeded to go through a few ownership changes as it struggled to find its place in the beauty industry. 1 KVD Beauty Good Apple Skin-Perfecting Foundation Balm KVD Beauty Kat Von D's former makeup brand got a lot of attention in March 2021 thanks to rave reviews on TikTok for its full-coverage foundation. But as some pointed out, it's not abnormal for a brand to remove an influencer's name from a line of products once their contract is up. Read: This is your cue to run a bath, grab a book, and wash your worries away with its luxe products. So it looks like the party isnt over just yet after all. When you need a brand that's mild and non-irritating, you go to Pacifica Beauty. ", On Twitter, one user wrote, "Becca changed the ENTIRE game. As Bustle reported, Hill said high demand for the palettes caused the brand to send the product to a different lab to be manufactured at a faster pace. 0 Intensive Bond Building Hair Treatment, 10 New Sustainable Beauty Products That Are Genuinely Impressive, The 21 Best Eco-Friendly Beauty Products Of 2023, Aprils Best Beauty Products Double As Your Festival Season Starter Pack, 8 Beauty Editors On The Best Tips Theyve Gotten From Their Mothers. Politics latest updates: Half of Britons think Tories will lose seats Sign up for our daily newsletter for the latest financial news and trending topics. "We believe in you, and we believe that the beauty inside you is the light you share with the world. Le Tote Inc.: Le Tote, which acquired Lord & Taylor fromHudson's Bay Co. in 2019, filed forChapter 11 bankruptcy protection over the weekend, for both its namesake business and the iconic New York retailer, Bloomberg reports. You may see some of their products being liquidated on Amazon, but these companies and beauty lines are no longer in operation. If it seems like the rich know something about money that the rest of us don't, it's probably because they do. Olivia Singh/Insider. Becca Cosmetics announced that it's going out of business in September 2021. Get advice on achieving your financial goals and stay up to date on the day's top financial stories. The Beauty Brands Cutting Down on Packaging (Published 2021) Additionally, West notes that at-home skin care treatments are seeing an uptick. Sears hasnt a good year, or a good decade, really. Stein Mart: Off-price department store chain Stein Mart announced Wednesday it filed for Chapter 11 bankruptcy protection in Jacksonville, Fla. Becca's pressed Shimmering Skin Perfector was the best-selling highlighter in the US in 2019. Dermstore's favorite products from the brand include its 1A Retinal + Peptides Overnight Mask, Mandelic Pigmentation Corrector Night Serum, and 35% Vitamin C + Perfecting Serum. CEO and CFO Hunt Hawkins cited financial stress due to "the combined effects of a challenging retail environment coupled with the impact of the coronavirus[COVID-19] pandemic," per a statement published in WWD. Although the news is devastating for some fans, the once-cult-favorite brand has dealt with a series of issues and missteps over the past few years that make it easier for me to say farewell. Despite some high-profile controversies in the last year, the star remains in the top spot. But this legacy brand that dates back to the 19th century, is determined to survive, no matter how many business overhauls it takes. Beauty sales declined as much as 30% in the first half of the year, according to McKinsey. The brand was known for working with rural artisans and using responsibly-sourced, heritage-based textiles. "The original formula was developed to help his [Dr. Alexandrides] patients skin feel better after trauma from surgery," Gills explains. How the beauty industry can survive coronavirus | McKinsey Neiman Marcus: With a reported $4.8 billion in debt, Neiman Marcusfiled for Chapter 11 May 7, saying in court documents that it expects to emerge from bankruptcy in the fall. As an Amazon Associate I earn from qualifying purchases. According to Reuters, some of the brand's U.S. stores will close, while others will attempt to renegotiate leases. In its darkest hour, Party City pulled off a massive turnaround when on Jan. 4, 2021,major shareholder Clifford Sosin acquired 406,500 shares of the stock in Party City Holdco, Inc. While navigating her journey with systemic lupus erythematosus (SLE), founder Dana Jackson was in search for products that could help repair her skin and hair. "PAUSE skin care is made for women going through 'the change' and it's something that isn't always openly talked about or addressed. Can the brand manage to stay relevant? 14 Trends Changing The Face Of The Beauty Industry In 2021 On Social Media:These Stars Get Paid Obscene Amounts of Money To Post One Picture, 2020, killjoy that it was, might have taken out Party City, the retailer whose name says it all. The product set a new standard for illuminators with its powder-to-cream formula that melts into the complexion to create an Insta-worthy glow. If you were to ask a beauty guru their favorite retinol on the market, chances are they would tell you Shani Daren's Retinol Reform. It's especially challenging on the Fourth of July when you ha, "Momentum is an exceptionally powerful thing that exists in the world, and we found out very early in our days about how to use that.". Though, it sounds as if the founder could be back to work in some capacity by fall, TBD. The outperformance in the Asia Pacific theater speaks to the strategy that the brand has pursued over the last several years of increasing a presence in the region as well as through e-commerce. In its darkest hour, Party City pulled off a massive turnaround when on Jan. 4, 2021, major shareholder Clifford Sosin acquired 406,500 shares of the stock in Party City Holdco, Inc, . Light your own paths and push your limits. But in recent years Becca Cosmetics struggled on all fronts with product launches, inclusivity, quality control, and influencer relations. 15 Beauty Products That Have Gone Viral On TikTok - HuffPost Related:Experts Predict Which Industries Will Fail in 2021, One popular brand that could disappear in 2021 is Gap, said Stacy Caprio,financial blogger, Fiscal Nerd. Adopting a slightly different approach, the Danish-born, New York-based makeup artist Kirsten Kjaer Weis purposefully makes her brands refillable Lipstick ($48) tubes and Compacts ($56) into keepsake objects that are meant to be cherished and reused; crafted from glossy stainless steel, they look and feel like luxurious totems. Looking Ahead:Can Amazon Continue Its Incredible Run in 2021? Its an app that people can use just like a regular wallet to store their card details and information. Jaclyn Hilldid not immediately respond to Insider's request for comment. One overarching category that both brands and retailers are betting big on is "clean beauty.". 6 Stores That May Completely Go Out of Business This Year, Experts Say