Photo Courtesy of Mented Cosmetics
If you were online, particularly Instagram around 2017ish you’re probably familiar with Mented Cosmetics. All of the “beauty influencers” were using the brand’s cosmetics. The Instagram app’s Explore Page was always filled with creators using Mented Cosmetics to create looks! On Youtube, almost every influencer’s content included Mented Cosmetics. That was my first introduction to the brand.
Mented was founded in 2017 by business partners KJ Miller and Amanda E. Johnson. The duo launched a full collection of eyes, lips, nails and face products for diverse skin tones. Mented Cosmetics quickly became the go-to beauty brand in the market and continued success years later. Mented is currently sold in Ulta Beauty, Target, CVS and Walgreens.
Beauty Independent announced West Lane Partners acquired Mented April of 2024. The details of the acquisition are undisclosed however, Miller acknowledged the challenges the brand faced with retail distribution. The brand is back after a rebrand per an Instagram Post
There’s this notion that people on the outside, who are not entrepreneurs believe that once a brand is able to put their products in stores, the products “sell themselves”. Getting into retail stores is only “half the battle”. Having products in retail stores can be a significant strategic decision for cosmetics companies , however you need an insane amount of resources, capital and a distribution strategy to sustain that level of growth. Here are the pros and cons to consider when expanding to retail stores:
The Pros:
Increased Visibility
Retail stores provide a physical presence where customers can see and try the products, leading to better brand recognition.
Larger Audience
Retail stores have a steady flow of foot traffic, exposing the brand to a broader audience than might be reached through online sales alone.
Cons:
High Costs
Selling through retail stores involves higher costs, such as retailer markups, shelf space fees, and potentially higher production costs to meet retailer demands.
Logistics
Managing inventory, distribution, and ensuring timely stock replenishment can be complex and resource-intensive.
Breaking down Acquisitions
What is an Acquisition? An Acquisition involve one company purchasing another. These transactions are done to expand reach, enter new segments, or gain market share. Some notable acquisitions; Google and Android (2005): Google’s $50 million acquisition of Android in 2005 paved the way for the Android operating system, now dominating the mobile market. Anheuser-Busch InBev and SABMiller (2016): The $100 billion merger created the world’s largest beer company, combining iconic brands like Budweiser and Miller.
Why a Partnership with West Lane Capital makes sense?
As mentioned in the Beauty Independent article, Miller discussed retail distribution challenges. Where West Lane Capital may fit into the equation is not just the acquisition of the company in itself, but expertise, and the firm’s commitment to adding value to portfolio companies beyond the acquisition transaction and the investment period.
KJ Miller and Amanda E. Johnson built an incredible brand for 7 years. I am excited to see where the company goes. KJ Miller remained onboard helping to assist with the rebrand this past summer. We’ve seen what KJ and Amanda built with the resources, drive and passion that lead to the success of their brand. I have no doubt in my mind that we’ll continue to see growth of Mented Cosmetics.
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