NEW YORK--(BUSINESS WIRE)--Milk Makeup, the award-winning makeup and skincare division of Milk Group, announces global beauty conglomerate Amorepacific Group as its newest investor. The Seoul-based Amorepacific joins Main Post Partners and Alliance Consumer Growth as minority shareholders in the clean, cool, beauty brand, forming a strategic partnership that will help forge a path for Milk Makeup as they enter the South Korean marketplace.
“The South Korean beauty market is highly competitive and incredibly innovative, so we are thrilled to have Amorepacific’s help to ensure our success in this important beauty space,” said Mazdack Rassi, CEO and Cofounder of Milk Makeup. “This strategic partnership will allow us to benefit from Amorepacific’s significant expertise and resources. And in true partnership, Milk Makeup will share the strategies that have made it one of the fasting growing color brands in the U.S.”
Scott Sassa, Chairman of Milk Makeup, led the multi-year process to put this deal together. “We were impressed by Amorepacific’s track record of internally starting and growing beauty brands,” noted Sassa. “This shared belief in building brands designed to last for decades was central to establishing this relationship.”
“Milk Makeup is sought after by beauty enthusiasts for its innovative formulas and clean ingredients. Through this partnership, Amorepacific will provide full support for its entrance into the Korean market and others in the future,” said Bae Dong-hyun, President of Amorepacific Group.
Founded in 2015 by Mazdack Rassi, Dianna Ruth, Georgie Greville, and Zanna Roberts Rassi, Milk Makeup quickly became a cult-favorite among beauty enthusiasts for its innovative formulas and clean ingredients. The brand delivers cruelty-free, paraben-free, 100% vegan formulas developed in-house at Milk Studios in Downtown NYC. Currently, Milk offers over 80 products through exclusive retailers, including in Sephora in the U.S., Canada, Spain, Germany, Denmark, and Sweden, and Cult Beauty in the U.K. Milk Makeup is also available in the U.S. via the brand’s ecommerce site, www.milkmakeup.com.
Inspired by the Milk community and culture, Milk Makeup sees personal style and experimentation as the ultimate forms of self-expression, knowing that it’s more than how you create your look, but what you do it in that matters.
Milk Makeup is part of the Milk Group, cofounded by Moishe Mana, Erez Shternlicht and Mazdack Rassi in 1998 with the opening of Milk Studios, a photography studio that evolved into a hub for nurturing creativity and supporting partnerships with some of the fashion and creative industry's most visionary talent and innovative brands.
About Milk Group
Milk is a culturally conscious company built to enable creative expression and collaboration. Made up of ten divisions, Milk is a full-service creative studio that activates at every step of the creative process—from conceptualizing groundbreaking ideas and products, to producing and distributing them. With over 20 years of experience nurturing and empowering new generations of creators, Milk serves as a connector between the established and the emerging.
About Amorepacific Group
Since 1945, Amorepacific has had a single, clear mission: to present its unique perception of beauty – namely what it calls ‘Asian Beauty’ – to the world. As Korea’s leading beauty company, Amorepacific draws from its deep understanding of both nature and human to pursue harmony between inner and outer beauty. With its portfolio of over 20 cosmetics, personal care, and health care brands, Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Europe, Oceania and the Middle East. Amorepacific’s research hubs located around the world are dedicated to sustainable R&D that combine the best of natural Asian ingredients and advanced bio-technology. With its world-class products, Amorepacific is acclaimed for the innovative ways in which it is transforming global beauty trends.
About Main Post Partners
Main Post Partners is a private equity investment firm focused on investing $25 – $75 million in profitable, growing companies across the consumer value chain. Main Post Partners invests in both majority and minority positions primarily in first institutional capital situations where founders, entrepreneurs and management teams are looking for an experienced partner to help build their companies to full potential. With a “Partnership, not Ownership” approach, Main Post Partners works closely with a network of successful executives to provide operational and strategic support to its management partners.
About Alliance Consumer Growth
Alliance Consumer Growth (“ACG”) is a leading growth equity fund providing capital and value-added partnership to the most promising emerging consumer product and retail brands. Notable brands that ACG successfully partnered with as an early investor include Shake Shack (later completed an IPO as NYSE:SHAK), Babyganics (later acquired by SC Johnson), barkTHINS (later acquired by The Hershey Company), Krave Jerky (later acquired by The Hershey Company), Suja Juice (later acquired by The Coca-Cola Company), Harry’s (acquisition announced by Edgewell pending regulatory approval), Herschel Supply Co., Tata Harper, Milk Makeup, Good American, LOLA, Pacifica Beauty, Nudestix, OUAI Haircare, Blaze Pizza, Snooze AM Eatery, and The Honest Kitchen, among others. ACG has offices in New York City and Los Angeles. www.acgpartners.com