, their assets will be acquired by investors, and they will be getting about $33 million in financing from that group. As part of the sale, the company has entered Chapter 11. “This agreement is a testament to the strength of our brands most meaningful to our consumers, including Morphe and Morphe 2," says Simon Cowell, president of Forma, in the statement.
It is not yet clear what exactly that looks like for Morphe and other brands associated with Forma, but industry sources have toldis working toward finalizing an agreement to take all operations in-house for her beauty brand, r.e.m beauty. Those sources say Forma has never had an ownership stake in r.e.m beauty, but under a licensing agreement has overseen product development, manufacturing, and marketing.
So far Forma's pivot has not been enough. Morphe has shut down its brick-and-mortar retail operations. Wild, the founder of Playa, has exited her brand and
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