Beauty Store Business

AUG 2019

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10 August 2019 | beautystorebusiness.com Industry News The Elite Eye Mask TO ORDER: lashsavers.com 800.690.1654 DISTRIBUTOR PRICING FREE SHIPPING AVAILABLE Extends the life of lash extensions and strip lashes Protects eyes and lashes during sleep, massage and travel Washable One size fi ts all TM Introducing LashSavers Eye Mask Courtesy o ICMAD ICMAD NAMES DR. KEN MARENUS AS NEW PRESIDENT Independent Cosmetic Manuacturers and Distributors (ICMAD), a non-proit trade association supporting creative, innovative companies, with a ocus on independently owned businesses o all sizes, has appointed Dr. Ken Marenus its new president. Dr. Marenus has an extensive career in the beauty industry and has had a role in representing the industry in the U.S., Canada and Europe. "Ken brings an unbeatable combination o extensive knowledge and a passion to encourage grassroots innovation and entrepreneurship across the beauty industry. Dr. Marenus' expertise in issues that are relevant to regulators and legislators in the U.S. and internationally will be immensely valuable in representing and educating our members. His perspectives on the opportunities and challenges o entrepreneurship in the beauty industry resonate strongly with our members and tie closely to ICMAD's mission," said Sanjiv Mehra, chairman o ICMAD. "ICMAD has been an active voice in the beauty industry and we have a strategy to continue to invest in resources or our members. With Ken's leadership we look orward to being even more relevant and eective and to ulilling our mission to support innovative beauty companies," said Chris Hobson, vice chairman o ICMAD. Among his duties, Dr. Marenus will oversee the administration, programs and strategic plan o ICMAD. Other key responsibilities include legislative advocacy, marketing and member and community outreach. He will report directly to the Board o Directors. "The past decade has seen the growth o both tremendous opportunity and unique challenges or the cosmetics industry. There has been a signiicant impact rom the emergence o indepen- dent beauty companies as leaders in product innovation and branding over the past decade and as a result, ICMAD members and others like them, are now playing leading roles in the global beauty marketplace. As new business models are created and barriers to competition change, we expect the industry to continue to experience strong levels o growth, innovation and globalization. Through this period, ICMAD will be a strong voice to oster creativity and innovation and to support the entrepreneurial spirit that is driving this change. Having spent my career in beauty and having had many opportunities to get involved in broad industry issues, I am excited by this opportunity to lead ICMAD and to represent independent cosmetics companies," said Dr. Marenus. Dr. Marenus earned a Ph.D. in cell biology rom UCLA and was a post-doctoral ellow in Biophysics at Johns Hopkins University. WEST LANE CAPITAL PARTNERS ACQUIRES STAKE IN FANTASY FILES Private equity irm West Lane Capital Partners has acquired a majority stake in Fantasy Files Group, a Caliornia-based manuacturer and distributor o specialty cosmetic brands Blossom, Blue Cross and Savina. No material changes in the operations o the Fantasy Files are planned. Ron Tinero and Mark Friedman, the company's coounders, will remain as executives and shareholders o the business. "Blue Cross Cuticle Remover has been a part o our amily business since 1947," said Mark Friedman. "Blossom cosmetics, inused with real lowers, is rapidly expanding both domestically and internationally. We are happy to entrust the uture o these brands to West Lane Capital Partners." Ron Tinero added, "Fantasy Files has experienced tremendous growth in the past several years. We are very pleased to have Nick [Sternberg] and his team on board. Their expertise, experience and managerial talent will allow us to achieve the success that Mark and I have always envisioned or our company." West Lane's managing partner Nick Sternberg said, "We are very excited to partner with Ron, Mark and their team to continue growing Fantasy Files' various brands and expanding the distribution channels both domestically and internationally. The range o products oered by the company have attracted a large and loyal customer base, and we are planning on launching various new and innovative products in the near uture." Dr. Ken Marenus

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