Big News In Beauty Industry- LimeCrime’s Change of Pace Under Tengram Capital


The summer of 2018 has surely proved to be a busy one for the beauty industry. There have been many notable investments and acquisitions with exciting deals. Back in May of this year, TPG Capital decided to take a stake in Anastasia Beverly Hills. TPG Capital is a private equity fund company that likes to buy a stake in smaller companies. The stake they took in the beauty brand was an undisclosed amount. They are known for their eyebrow grooming and buzzy cosmetic products. In June, Ambienta and L Catterton decided to take over Pibiplast, a leading manufacturer of innovative and sustainable packaging solutions. This is a driving trend these days for beauty brands.

Industry Incumbents Joined In On The Acquisitions

Naturally, other incumbents in the industry were joining in on this busy summer of acquisitions as well. Unilever took over a big stake in Equilibra, an Italian business in the personal-care product line. The most talked about business acquisition this season was concerning Tengram Capital Partners investment in LimeCrime.

Company Background

LimeCrime is a trendsetting makeup company known for their cruelty-free, vibrant products. They also boast that their products are vegan. It was announced in June 2018 that Tengram Capital Partners decided to acquire this unique company. The company was founded in 2008 by Mark Dumbelton and Doe Deere. They are both entrepreneurs and avid beauty aficionados with fashion-forward tastes.

The company founders have worked hard to continuously create products that are innovative and creative for their customers. Their company stands apart from others in the beauty industry because they have created a magical world where beauty is being redefined and self-expression is forever encouraged. For many years, the company has been able to create new trends that have taken the industry by storm.

Their brands have become a hit around the globe. They have loyal customers, or unicorns, from Los Angeles to London. Their products are in high demand and can be found at retail establishments and department stores around the world including Ulta, Bloomingdales and Riley Rose. The company has just recently launched their product line in the United Kingdom.

Their recent acquisition by Tengram will help support their growth strategy. It will also allow them the ability to find more creative ways to give their customers the whimsical experiences they have come to love from the company. It is a digital-first company. They are going to continue focusing primarily on their flagship section of the company, To get their products available to more of their unicorn-loving customers, they will also be making their products available at more retail stores throughout the world.

In addition to getting their current products in more stores, they will also be working on a line of new products. The beauty company will be introducing new product categories and finding innovative ways to further enhance their global community.

Kind Words For Newly Acquired Beauty Company By Tengram Partner

Richard Gersten is a partner with Tengram. He had some nice things to say about their newly acquired company. He feels they are a unique company of beauty brands. Richard loves the fact that they have a powerful following of loyal customers. That’s why he also feels they have a lot of experience in giving their customers an expressive approach to beauty and cosmetics.

limecrime's original founder doe deere
LimeCrime Original Founder Doe Deere

Tengram has an immense appreciation for what the founders have built with their company. They have created a brand of products that allow people to truly express their individualism and push past traditional beauty standards across the globe. The company’s authenticity and innovative approaches to beauty stand out among the rest.

Private Equity Reaching For Beauty Customers

Many private equity firms and legacy companies are reaching for the beauty customers of this generation. On the other side, Tengram has been accomplishing this for years before it became a big thing. The company’s first investment in the beauty industry happened in 2002 with the acquisition of Alba Botanica and Avalon Organics. With the addition of more and more competition in the beauty scene, Tengram is working tirelessly to differentiate their firm from the rest.

Why Tengram Invests In Beauty Companies Such As LimeCrime

They have a specific thesis for why they invest in the beauty industry. Their approach has evolved and changed to mimic the times. However, while many firms are looking to identify specific trends and ride those waves, Tengram does much less when considering the brands and companies they want to acquire and they are not afraid of finding companies which have complicated deal structures. As with the new acquisition of LimeCrime, there are a lot of lesser-known positive attributes that outshine any of the negatives. With this company, in particular, it was their lack of positive history and no executives in the company to help make the transition a smooth one.

How Tengram Shifted Their Approach When Acquiring LimeCrime

Years ago, it was demanded that new beauty brands and companies make a name for themselves with brick-and-mortar stores or through wholesale channels. These days, the barriers to entering the beauty sector are much lower. Social media and direct-to-consumer options have completely changed the industry. This happened to be the main reason Tengram was attracted to They already had millions of followers on Instagram and a unique consumer base. Tengram saw unlimited opportunities in wholesale distribution with this uniquely-branded company.

Why Packaging Is Becoming More Important In The Beauty Industry

Marketing, packaging and technology are becoming more and more relevant. According to Tengram, it always comes down to the product in terms of success. If the products cannot deliver what is promised to the customers who purchase them, the brand will not last. Unique packaging is more important than it used to be. It is a way for brands to distinguish themselves from the never-ending competition.

The vision of the newly acquired company is going to continue under Panagakis. She will also work with Sasha Valentine, the Chief Creative Officer for the last eight years. The co-founder, Doe Deere, has now transferred from working day-to-day operations to working with the Board of Directors. This will allow her to have more authority while still doing what she is passionate about. She loves to dream, explore and inspire unicorns around the globe.

Doe has also expressed her delight and enthusiasm for the growth the company will gain from this new investment. She founded the company with a belief that beauty is supposed to be a form of freedom that anyone is able to enjoy. Beauty has been done differently over the last ten years with the company. This was a huge selling point for Tengram Capital in wanting to acquire it. They have a mission to create products which are trend-setters.

The company has a mission statement that states they love rebelling against the more traditional beauty standards around the world with color. They want to help people across the world find themselves and unleash their unique characteristics. Their products were created to allow customers the ability to escape their everyday existences and be transported to a faraway, magical world where you can be who you want to without apology.

Their innovations and colorful trends have certainly taken the world by storm. They created one of the first ever liquid matte lipsticks and have award winning hair color products. The company designs, manufactures and assembles all of their products in Los Angeles, California. They use ingredients that are globally sourced to offer high color performance and pay-off. All of their product lines are made cruelty-free and vegan. Verified by Leaping Bunny and PETA, their products have never been and never will be tested on any animals.

Tengram has proven to be instrumental in structuring and building teams for their newly acquired companies such as LimeCrime. This is important because they view these companies as assets where they can build and recruit teams who they know will be high performers. When examining the past acquisitions of Tengram Capital, it can be seen they make drastic changes to the organizations behind each brand. It is not uncommon for them to hire new CEOs, board members and other team players to make the company infrastructure more sound.

With LimeCrime, Tengram is choosing to pursue a more aggressive retail strategy because of the team they already have in place. They have already received more inbound interest from different global retailers than any other company or brand they have invested in or acquired in the past. This has made for an exciting adventure for both Tengram and the co-founders of LimeCrime. As more and more categories in the beauty industry begin to get overcrowded, Tengram will look for more ways to make each one stand out over the rest. They have been paying particular attention to brands that already have a large social media following and fan base. This makes acquiring a new company much easier and a less risky venture. To them, companies that are able to crack the social media code in a crowded industry will be their best money-makers.

See what examples of what Tengram does with the controversial beauty brand on Instagram @LimeCrimeMakeup.


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