Philippe Pinatel Joins Merit Beauty as CEO



The company announced Tuesday that the industry veteran will succeed Merit’s founder Katherine Power.

Pinatel joins Merit from MAC Cosmetics, where he served as global president since 2020. He previously held positions at Sephora and Guerlain.

Merit launched in 2021 and specialises in minimalist beauty routines, which Power dubbed the “5 Minute Morning.” The brand became a viral hit on TikTok during the height of the “quiet luxury” trend last year with its Minimalist Complexion Stick, Flush Balm blush and Solo Shadow eyeshadow topping the brand’s best-seller list. The label counts Sephora as a retail partner but it’s direct-to-consumer business is booming, with nearly half of all orders placed on the brand’s website. L Catterton took a stake in the business in 2021. According to sources, Merit expects retail sales to reach $150 million in 2024.

Power will retain her role as the brand’s chairperson.

Learn more:

Beauty’s Most Sought-After M&A Targets in 2024

Now that the market has stabilised, beauty brands of all shapes and sizes are eager to get their dues. The Business of Beauty identifies the top targets of the year including Kosas, Summer Fridays and Selena Gomez’s Rare Beauty.



Source link

About The Author

Scroll to Top