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Hi, and welcome back to Line Sheet. I’m en route to Los Angeles, returning from my busiest Fashion Month ever. I’m sorry about everyone I missed, and glad about others I did. I learned a lot, much of which you’ll be reading in the coming weeks. I look forward to spending time with many of you in New York or Europe this spring, too. It really, truly, actually never ends.
By the way, did you know French people do get Botox… although in doses that are a fifth of what people are doing in America? The effect is subtler, but similar: “I haven’t expressed empathy in two years,” said my friend Alice.
Today, you’ll find my closing runway remarks. Most important, though, is the latest dispatch from our peerless beauty correspondent (and top Miu Miu client) Rachel Strugatz, who has an M&A scoop, and fresh intel about what went on at Sephora’s annual (Taylor Swift-themed) brand summit. If you’re a beauty company that loves Rachel’s work, why not hit up [email protected] to talk group subscriptions? You can afford it!
Mentioned in this issue: Carolyn Bojanowski, Sephora, Taylor Swift, Summer Fridays, Marianna Hewitt and Lauren Ireland, Artemis Patrick, Seán McGirr, Miuccia Prada, Chitose Abe, Dara Allen, Nicolas Ghesquière, Louis Vuitton, John Galliano, Susanna Venegas, LVMH, Givenchy, Loewe, Alicia Sontag, Sol de Janeiro, Roger Lynch, Sarah Burton, Kim Jones, and many more.
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| It’s gonna be a crazy year for beauty M&A—Kosas, Makeup by Mario, Merit, Rare Beauty, Glow Recipe, and more are rumored acquisition targets. But first, dear reader, we set our pen to the impending sales process surrounding Summer Fridays, the proprietor of those Lip Butters that allegedly sell every 10 seconds at Sephora. The skincare brand, which was co-founded by influencers Marianna Hewitt and Lauren Ireland, has risen to prominence since it debuted the now-internet-famous “Jet Lag Mask” back in 2018. The pair used Instagram as a launching pad for their “social media first” brand—a novel concept at the time that paved the way for dozens of other influencer beauty lines. According to a person with knowledge of the business, Summer Fridays is on track to do over $100 million in revenue this year, and with “strong EBITDA.” Hewitt and Ireland have tapped... |
