EXCLUSIVE: Ariana Grande’s R.e.m. Beauty Nabs Investment From Sandbridge Capital
Summary
Terms of the deal were not disclosed.Our new partners share our same values and strategic vision and I welcome them as we take flight during this new and exciting era, Grande said via email. beauty has only just begun.The brand was recently PETA-approved cruelty free, and has launched at Sephora in Europe and Selfridges in the U.K. Michelle Shigemasa, R.e.m. The brand has continued growing despite Formas bankruptcy, and tapped Shigemasa to helm the business earlier this year.Were building a new team and culture of smart, talented, passionate people who are committed to taking R.e.m. Im honored to have them, Shigemasa said.The line has been for sale at Ulta Beauty for about a year, where its performance has been consistently lauded. We look forward to continued success as partners in this next phase of growth for Arianas incredible company.Building up the brands innovation pipeline and executing it at retail, such as its space-themed Ulta launch activation is another priority for Shigemasa.