FORMA is building brands for next-gen beauty consumers
“General Atlantic’s investment will position us for our next phase of growth as we continue to grow Morphe and expand to develop a new global platform with a portfolio of next-generation beauty brands,” Myles McCormick, CEO of Morphe Holdings, told the press around this same time last year when General Atlantic first invested in the company.
McCormick explained the intent of that deal further saying, “With its experience in partnering with founder-led brands, General Atlantic will enable us to leverage additional resources and expertise for founders in the future as we seek to grow our portfolio and help next-generation beauty brands rapidly scale their businesses.”
Over the course of the intervening year, the Morphe team brought on new leadership, including former Bare Escentuals CEO Simon Cowell as President, former Ineterscope Records Senior Vice President Erika Savage to lead Partnership Development, and Cathy Beaudoin, formerly of Amazon Fashion and Founder of Piperlime, as a member of its Board of Directors.
Morphe Holdings relaunches as FORMA Brands
FORMA Brands is a company that functions in several ways at once to maintain a portfolio of beauty and wellness brands that resonate with Millennials and Gen Z consumers.
The company develops and incubates new brands in house; it partners with and invests in existing brands as an accelerator; acquires brands to cover open categories in the FORMA portfolio; and it curates third-party brands on its own ecommerce platform.
“The launch of FORMA Brands realizes our vision for transforming our business into a multi-branded, multi-category portfolio of next-generation beauty brands,” McCormick told the press last week.
“FORMA,” he says, “builds on the success of the Morphe brand and demonstrates our approach and capabilities to accelerate the development and growth of founder and influencer-led beauty brands.”
“I am extremely proud of what our entire global team has accomplished, as well as our ongoing partnership with Morphe’s founders, and I am energized to leverage the platform we have developed into new brands, new categories, new consumers and new geographies to celebrate all forms of beauty,” adds McCormick.
As FORMA launches, the company announces 2 new brands
FORMA Brands has acquired Playa Beauty, the hair care brand founded by Shelby Wild. Playa will fit into the company’s accelerator program; and Wild will remain with the brand: “Our partnership with FORMA positions us to share the laid-back luxury and effortless spirit of Playa Beauty and our haircare products with a larger global audience by leveraging FORMA’s channels and reach,” she tells the press. “I look forward to working with the collaborative team at FORMA to continue to capture the opportunity within the rapidly growing haircare category as well as other categories together.”
The company also has plans to launch a wellness supplements brand through its incubator program later this Fall. The new brand, Such Good Everything, “provides vegan gummy vitamin supplements at an accessible price point to address sleep, hair, skin, and belly health as well as other wellness categories,” according to the media release FORMA issued this past Friday.