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Forma Brands’ rem physical assets are valued at approximately $15 million.
The transaction between the singer and the brand still needs the approval of the judge overseeing the bankruptcy case.
Ariana Grande has been trying to regain control of the cosmetics brand since October 2022.
Ariana Grande, the famous American singer, songwriter and actress, seeks to revive its brand REM Beauty by buying back all of its existing cosmetics inventory, after the company that operated it filed for bankruptcy.
The agreement, which was announced in the international media and which is part of a judicial file, is part of the fight that the 29-year-old pop star is maintaining to regain control, image and finances of the beauty and cosmetics brand that she licensed. exclusively for Shape Brands in December 2020.
And it is that this movement was the one with which he debuted with a space line, which gave more popularity to the company and to the “Ulta Beauty locations” that were one of the main drivers of sales… it was expected that the cosmetics brand of Ariana Grande was set to post around $84 million in sales for fiscal 2022, but instead her parent in charge filed for bankruptcy.
Ariana Grande: businesswoman and artist
The young woman became known as an actress in the Nickelodeon series Victorious, where she gained much more influence than the protagonist herself and managed to boost her image in the music industry.
The Florida native has amassed a fortune from her appearances at festivals, concerts, television and streamingSo in the last decade Ariana Grande She positioned herself as one of the most relevant female artists, with more than 210 million followers on Instagram and more than 80 million on Twitter. Until now, it is known that between her collaborations with her brands and her earnings in the artistic guild his patrimony rises to 240 million dollars, according to the Celebrity Net Worth site.
Ariana Grande seeks to “revive” her cosmetics brand
In 2023, Ariana Grande will seek to revive her cosmetics brand through a $15 million deal.
The REM Beauty buyback was made from Forma Brands, but still needs approval from the judge overseeing the bankruptcy case in Delaware, according to court documents filed on January 27.
This company also owns the Morphe cosmetics brand, of which it is not known what will happen after the bankruptcy is validated.
As for Ariana Grande, her legal team has been trying to regain control of the beauty and cosmetics brand since October 2022.
The interpreter of “Thank U, Next” has not declared anything about it yet, so we still have to wait and see how the branding process will go and if it will see the light again on the market for Ariana Grande fans.
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