Black woman-owned beauty brand Mented Cosmetics has been acquired by West Lane Capital Partners, Beauty Independent reports.
The company, co-founded in 2017 by KJ Miller and Amanda E/J Morrison, offers products that cater to women of all complexions, its website mentions.
According to Beauty Independent, Mented Cosmetics’ inaugural product was nude lipsticks created for women of color, which is still one of its best sellers.
Mented Cosmetics’ products have since expanded to include mascara, blush, eyeshadow, foundation, and more, which can be seen on its website. Prices range from $16.50 to $30, the outlet says.
The brand first relied on direct to consumer (DTC) distribution before landing in retail stores. As of this writing, its products are being sold in Ulta Beauty, Target, CVS and Walgreens but will shift its focus to DTC, the outlet notes.
Over the years, the company has raised $9 million in venture capital funding, Crunchbase lists. However, there have been some growing pains.
In January 2024, the company halted the sales on its website due to not having enough inventory to fulfill orders. Additionally, Miller told the outlet that retail distribution has been difficult.
“Growing in retail requires a lot of capital because it’s not just getting placed and that initial inventory, but it’s all of the costs that come with staying on shelf,” she expressed to the outlet. “There can be markdowns in the hundreds of thousands of dollars, and there can be shrinkage and damage in the tens of thousands of dollars every month.”
Now, Mented Cosmetics is being acquired for an undisclosed amount by West Lane Capital Partners and will be joining its portfolio company Blooming Brands.
Mented Cosmetics will relaunch and fulfill e-commerce orders beginning in summer 2024. During the transition, Miller will remain active. Following her duties with the company, she will pivot to focus on content creation and teaching, Beauty Independent shares.
“They have extensive knowledge of the beauty industry,” Miller told Beauty Independent. “Beyond that, I respect and admire the team. We have seen a number of brands in the consumer space either not make it or be left from what I hear with deals that they didn’t feel great about, and I’m lucky to say I feel really great about our partner.”
Michael Wentz, VP at West Lane Capital Partners, said, “Mented is a brand with a strong reputation in what is a really competitive market in the color cosmetics space. Coupled with the success it has had on social media and the trajectory of the business, we saw a lot of opportunities to broaden it with the infrastructure we have at Blooming Brands to take it to the next level.”
