This popular beauty brand closes for good
An "accumulation of challenges, as well as the world impact of COVID-19" are the basis of the decision.
The Pandemic of Covid caused anothervictim in the retail space. On February 24, the popular brand of Beauty Becca announced that it ceased operations in the near future. In a statement, the mark, which sells makeup through mega-retailers like Sephora and Ulta, revealed that "an accumulation of challenges" had aroused the decision to close. Read it to know when Becca will go for good. And for more popular stores, reassembly operations,This beloved chain closes all its stores.
The company has been undertaken for more than 20 years.
While many brands of cosmetics come as trends in making makeup sector, Becca has managed to have a long life in a difficult business. The company was founded in Perth, Australia in 2001 and wasdeserves a reported $ 200 million At the moment he wasbought by Beauty Giant Estee Lauder In 2016. Becca is far from the only beauty brand to close in the midst of financial misfortunes associated with the pandemic, however:This beloved brand has just filed a bankruptcy.
The brand has some of the best-selling cosmetics on the market.
Becca has more than the just longevity on its side, however - the products of the beauty brand without cruelty and cruauty have become indispensable means for many beauty enthusiasts.
In fact, the scent of the shimmering skin of society is the most sold highlighter in the United States, according to 2020NPD Group Data. Celebrity collaborations of the brand, including launching pallets with stars likeKhloe Kardashian andChrissy Teigen, also put on the map around the world in recent years. And for more information on the latest retail closures,Sign up for our daily newsletter.
The pandemic has played a major role in the decision to close.
Becca did not beat the bush in terms of what leads to the disappearance of the brand. "The global pandemic has had an impact on everyone in the world on several levels. It has also had a considerable impact on so many companies. In BECCA, an accumulation of challenges, as well as the world impact of COVID-19 Unfortunately, unfortunately, our company can resist, "wrote the company in a statement.
According to2020 financial statements Published by the parent company of BECCA, Estee Lauder, the mark had undergone a $ 85 million depreciation fee during the pandemic, indicating that its book value - what the mark is worthwhile to be based on calculations. internal - exceeded its fair value, or what it could probably be sold for.
BECCA will begin to stop this fall.
The announcement that BECCA will cease the production of its beloved products can be shocked by dedicated customers of the brand, but you do not have to worry about running out of your favorite foundation or your favorite highlighter. In the announcement regarding the closure of the brand, the company revealed that it will not make the complete closure before the end of September. The brand has not yet announced that its products will begin to be removed by retailers. And for another emblematic brand in difficulty, checkThis popular department store has just filed bankruptcy.
