"Gregg Renfrew is back. Four years after the entrepreneur sold her clean skincare and cosmetics brand Beautycounter to The Carlyle Group in a deal valued at $1 billion-and more than a year after she and the private equity firm shut down the company amid falling sales-Renfrew today is officially launching Counter, a new company built on Beautycounter assets she acquired from Carlyle's lenders."
"Beautycounter's demise was indeed humbling. (My Fast Company colleague Elizabeth Segran offers a thorough recounting of the company's rise and fall.) Sales foundered and the company struggled to service its debt. Efforts to revive Beautycounter, such as a deal to sell its products in retailer Ulta Beauty, and changes to leadership, including the return of Renfrew as CEO in 2022, ultimately could not save the business."
Gregg Renfrew acquired Beautycounter assets from Carlyle's lenders and launched Counter, a new clean-beauty company that began selling online on June 25. Counter uses some Beautycounter formulations and retains a clean-ethos while leveraging customer data secured in the acquisition. Beautycounter previously reached about $400 million in annual sales before a Carlyle acquisition and later shuttered amid falling sales, debt servicing problems, and unsuccessful revival efforts including an Ulta Beauty deal and leadership changes. Renfrew returns to entrepreneurship focused on profitability, listening to customers and sellers, and adopting a humble, learning-oriented approach as she rebuilds the brand.
Read at Fast Company
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