Bonne Bell Cosmetics shuts down, sells Lip Smackers brand
Bonne Bell Cosmetics will close its doors after almost 90 years in business and is to lay off all of its 91 employees, but will continue to operate under the Bell Family Brands name, retaining ownership of the Formula Ten-Oh-Six brand, and distribution of the Lip Smackers brand in Asia and Europe.
The company was established in 1927, but really came to the fore for its lipstick and lip care ranges, specifically the Lip Smackers and Bonne Bell branded product lines, which proved big hits in North America, Europe, Asia and Australia.
Markwins snaps up the brands
Recognizing the strength of the brands, California-based Markwins International Corps has bought them both from Bonne Bell parent company Aspire Brands and intends to continue manufacturing the lines and distributing them in the US.
Markwins executives say they want to revive the brands and restore them to their past popularity and build on its companies three previous acquisitions in the past 12 years, which have included Physicians Formula and AM Cosmetics.
"For Markwins, Bonne Bell and Lip Smacker will undoubtedly reach a new consumer and enhance our retail relationships," said Eric Chen, Chief Executive Officer of Markwins.
"But on a personal level, Markwins' brands have always aimed to connect with consumers in an intimate way. Bonne Bell is an industry icon, with a rich history dating back 87 years and with 94% consumer recognition.”
Bonne Bell says it's here to stay
Bonne Bell Cosmetics acknowledged the move by thanking its customers in a post made to its Facebook page.
“The Lip Smacker and Bonne Bell brands have been sold but WILL continue to be available for purchase in the US. This will be a revamping to the brands and we are excited to see what the future holds! Bonne Bell isn't going anywhere,” the post stated.
Although terms, conditions and the cost of the deal were not revealed, the companies did say that they have mutually agreed to close the deal by the end of February, 2015.