Patriach Partners, which holds controlling stakes in Stila Cosmetics and Jane Cosmetics, has appointed the investment company's founder Lynn Tilton to head up the two businesses.
Tilton will assume the position of CEO for the two portfolio investment cosmetic businesses, having acquired Stila Cosmetics in April 2009 and Jane Cosmetics September 2009, since when significant investment by Patriach has enabled both businesses grow their footprints significantly.
“I have long believed that these companies are a platform to educate, enlighten and empower women,” said Tilton.
Patriach is an $8bn business with a focus on cosmetics
Since 2000 Tilton has built Patriach Partners into an investment company and holding business that currently includes 75 businesses in its portfolio that has an estimated valye of $8bn.
It has traditionally focused on buying up brands and businesses that have fallen on tough times, whether due to economic hardship or structural challenges.
In the 13 years it has been in business the company has bought up more than 150 businesses in the United States, during which time it is estimated to have saved over 250,000 jobs.
Over the years it has also focused much of its investment in the cosmetics and personal care category, and continues to hold Dana Classic Fragrances in its business portfolio.
Tilton will head up a dedicated executive team
“I am excited and honored to work more closely with these teams to be disruptive in our strategies and more innovative in our products. I am grateful for the dedication, work ethic and innovation of the new operating teams," Tilton added.
In her new position, Tilton will oversee all aspects of the daily running of the business for both brands, including sales, operations, finance, marketing, product development and packaging.
Complimenting dedicated executives who also see each specific area of the businesses, Tilton’s executive team will also be backed by CFO Michael Hughes, CCO Menal Parikh and CMO Cynthia Rapp.