MAV Beauty Brands has a new CEO
Entrepreneur and hair stylist, Marc Anthony Venere founded MAV beauty brands in the mid-1990s; and since July 2018, the beauty company has been publicly traded.
MAV Beauty Brands owns not only the Marc Anthony True Professional brand but also Renpure plant-based beauty, Cake Beauty, and The Mane Choice.
MAV Beauty Brands is growing by acquisition
MAV acquired Cake Beauty in early 2018, as Cosmetics Design reported. And in July of last year, the Cake brand launched in the UK and was the first MAV brand to do so.
In a press release announcing the UK launch, then Chief Revenue Officer at MAV, Tim Bunch, commented that “Cake Beauty has been a standout, and the brand’s rapid expansion clearly demonstrates the power of our global operating platform. From one retailer a year ago, the brand is now in nine markets and 19 retailers.”
Late last year, MAV Beauty Brands acquired The Mane Choice, teaming up with that brand’s founder Courtney Adeleye to not only grow the brand but to also launch the Generational Advantage Fund, a new organization educating and funding women with the goal of building generational wealth.
At the time of the deal, MAV documents show that “The Mane Choice is a leading brand in the US textured hair market, with broad distribution in leading drug, mass and specialty beauty retailers.” And that, “For the 12-month period ending September 30, 2019, The Mane Choice has net sales of approximately $24.4m and adjusted EBITDA of $6.4m.”
There’s a new leadership structure at MAV Beauty Brands
Tim Bunch is now MAV Beauty Brands’ CEO and President. Marc Anthony Venere is the company’s Director. “I am deeply committed to the Company's long-term success, including by maintaining a significant equity interest,” Venere tells the press; and he adds, “I believe the Company's fundamentals and brands are strong, and the MAV management team can drive results that reflect the business' full potential.”
Chris Elshaw, who chairs of the Company's board of directors points out that “since joining MAV Beauty Brands in 2017, Tim has played a key role in the organization and most recently took on an expanded role as President."
Elshaw summarizes the MAV Beauty Brands’ history and growth in this month’s press release about the leadership changes this way: “Marc Anthony is an amazing entrepreneur and for 25 years, has led the growth of this business from one salon to the leading independent haircare company it is today.”
“Since becoming a public company,” says Elshae, “we have strengthened our leadership team with key appointments of seasoned executives and, following the recent acquisition of The Mane Choice, we streamlined our organizational reporting structure to best support our brand portfolio and gain efficiencies. While Marc Anthony will no longer have day-to-day management responsibilities, he is committed to supporting the executive team under Tim's leadership.”
Deanna Utroske is a leading voice in the cosmetics and personal care industry as well as in the indie beauty movement. As Editor of CosmeticsDesign.com, she writes daily news about the business of beauty in the Americas region and regularly produces video interviews with cosmetics, fragrance, personal care, and packaging experts as well as with indie brand founders.
Deanna will be traveling next to the Personal Care Product Council’s annual meeting; if you’ll be there too and have beauty business news to share, feel free to contact her at firstname.lastname@example.org