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Summer Fridays Deal Heat & Sephoracon

Summer Fridays Marianna Hewitt Lauren Ireland
Summer Fridays not only remains relevant but is also an outlier in a space plagued by oversaturation, scandal, and a crush of underwhelming brands desperate to re-create what Kylie Jenner did nearly a decade ago. Photo: Stefanie Keenan/Getty Images for Summer Fridays
Rachel Strugatz
March 6, 2024

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 banker Vennette Ho, global head of beauty and personal care at Raymond James, to lead a sale process. 

Generally speaking, if you want to get a deal done in beauty, you go with Vennette. Over the years, beginning with her tenure at Financo, she has become the Aryeh Bourkoff of the industry, working on both the buy and sell sides. (Look up Aryeh, you philistines…) Ho was the invisible hand behind Unilever’s $2 billion acquisition of Paula’s Choice; Shiseido’s $845 million purchase of Drunk Elephant; and Hero’s $600-and-some million sale to Church & Dwight. Ho and her team have also worked with Tatcha, Briogeo, and others.