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Developer of beauty brands such as Morphe and Ariana Grande’s R.E.M. Beauty fell out of favor with Gen Z consumers.
January 12, 2023
By: TOM BRANNA
Editor
Beauty incubator Forma Brands, which owns Morphe, Ariana Grande’s R.E.M. Beauty, Lipstick Queen and more, filed for Chapter 11 Bankruptcy in the US Bankruptcy Court for the District of Delaware. The move follows last week's announcement to close all Morphe stores in the US. The company has reportedly been considering bankruptcy since October. Sources blame the pandemic, which caused a two-year slide in color cosmetics sales, supply chain issues, as well as controversy surrounding celebri...
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