Vegan beauty brand Lime Crime under new ownership
Los Angeles-based vegan and cruelty-free makeup brand Lime Crime has been acquired by private equity firm Tengram Capital Partners. As part of the acquisition, Stacey Panagakis has joined Lime Crime as CEO, effective June 18, from her role as general manager of New York City-based beauty company Fresh.
Tengram said that its acquisition would support Lime Crime’s growth efforts, with focus on its flagship website while looking to form select retail partnerships that will bring the brand to more shoppers. The brand was started in 2008 by Doe Deere and Mark Dumbleton and has since introduced such products as its Velvetines ultra-matte liquid lip products and its Diamond Crushers Lip Toppers.
“Lime Crime is truly unique among beauty brands, with a powerful following and a deep understanding of its consumers and their expressive approach to cosmetics,” Tengram partner Richard Gersten said. “We have tremendous appreciation for what Doe, Sasha Valentine and the team have built over the past ten years: a revolutionary brand that empowers consumers to express themselves and inspires them to push past the traditional limits of beauty. In an era of beauty brand proliferation, Lime Crime's authenticity and innovation stands above the rest. Lime Crime is a tremendous fit in our strong portfolio of beauty brands, and we look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects.”
The addition or Panagakis as CEO brings to the beauty brand her industry experience, which includes her building the Fresh brand in North America — an effort that Tengram said leveraged retail partnerships and digital capabilities to position it as a leader at Sephora. Before Fresh, Panagakis held executive roles at Origins Natural Resources, Stila Cosmetics and Clinique.
Tengram said that its acquisition would support Lime Crime’s growth efforts, with focus on its flagship website while looking to form select retail partnerships that will bring the brand to more shoppers. The brand was started in 2008 by Doe Deere and Mark Dumbleton and has since introduced such products as its Velvetines ultra-matte liquid lip products and its Diamond Crushers Lip Toppers.
“Lime Crime is truly unique among beauty brands, with a powerful following and a deep understanding of its consumers and their expressive approach to cosmetics,” Tengram partner Richard Gersten said. “We have tremendous appreciation for what Doe, Sasha Valentine and the team have built over the past ten years: a revolutionary brand that empowers consumers to express themselves and inspires them to push past the traditional limits of beauty. In an era of beauty brand proliferation, Lime Crime's authenticity and innovation stands above the rest. Lime Crime is a tremendous fit in our strong portfolio of beauty brands, and we look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects.”
The addition or Panagakis as CEO brings to the beauty brand her industry experience, which includes her building the Fresh brand in North America — an effort that Tengram said leveraged retail partnerships and digital capabilities to position it as a leader at Sephora. Before Fresh, Panagakis held executive roles at Origins Natural Resources, Stila Cosmetics and Clinique.