This Super Popular Makeup Brand Is Closing a Bunch of Stores
By Liz Ritter, Executive Editor |
As part of its financial forecast for the end of year, Shiseido Co. Ltd. has announced it will close 100 bareMinerals stores in the U.S., according to WWD. There are currently 209 stores in the U.S., and the company pegs that "a full 30 percent of American women use the brand."
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Launched in 1995, Bare Escentuals (the company that produces bareMineral products) was acquired by Shiseido in 2010. Although the brand—most famous for its mineral foundation—is a household name and was once a powerhouse on QVC, Bare Escentuals has struggled in recent years in an increasingly more competitive market. Shiseido revealed that it posted a loss of more than 65 billion yen (approximately $575 million) associated with the brand.
Fans of Bare Escentuals, however, have no reason to be overly worried. The parent company stated that the brand is the “only brand within the Shiseido Group that is competitive in the growing natural cosmetics market" and affirmed that it will continue to invest in the brand.
So in the short-term, while you may no longer be able to drop into your local bareMinerals store, rest assured that newer launches are on the way.