Lime Crime's Mission and Ethos Remains Unchanged Under New Owners
Let’s face it; we all want to look good. Our
daily make-up and beauty regimens are a ritual we secretly look forward to. How
we present ourselves to the world is, whether we know it or not, an artistic
representation of who we are and what we are about. As consumer knowledge has
evolved, however, many consumers began to question the ethics of these products
we touch every day.
Lime Crime is a cosmetics company that was
created on the ethos of ethical expression. Harnessing the power of the web,
the business sidestepped physical showrooms, marketing its unique and
entertaining products right to the customer. The company’s mission was simple:
have fun, be unique, and sell products that are animal and cruelty free. It was
a two-fold approach. The company sells products, like their flagship line of Unicorn
Lipstick, that are, in and of themselves, different to
anything else on the market, adding a touch of flare to more traditional beauty
lines (read: boring). The second part of their plan was to market these
products to the ethical consumer.
Founded in 2008, Lime Crime is now transitioning
to the next stage of its evolution under new owners, Tengram Capital Partners.
Tengram is a private equity firm that is an expert in guiding established
companies, companies with a recognizable brand, towards full market potential.
The Tengram deal, announced in June 2018, comes with a change in leadership.
New CEO Stacy Panagakis will head the firm.
This maverick beauty company has, in a short
time, become a leading cosmetic brand internationally, with a growing footprint
in the Asian and European markets. Tengram’s plan is to help the firm move into
more conventional retail partnerships alongside the successful online store,
while still innovating and surprising its customers. It is not lost on the new
Tengram team that even as the company expands into traditional platforms, its
calling card is a strong focus on whimsical and inspired expressionism.
What this means for the business model is that
the Lime Crime Unicorns, the company’s loyal and devoted customer-base, will
remain front and center but with more options to shop the brand. The business's
plans to expand the product line will continue unchecked, with a sustained
commitment to surprising and enchanting its customers.
Tengram is committed to the company, both as a
lucrative business investment and a brand that is uniquely poised to capture an
evolving market. As Tengram partner Richard Gersten recently said, Lime Crime is “a revolutionary brand that empowers
consumers to express themselves and inspires them to push past the traditional
limits of beauty.”
The mission of the firm’s founders Doe Deere and
Mark Dumbelton, along with Tengram, have found an experienced partner in their
new Chief Executive Officer. Stacy Panagakis joins the business, and veteran
Chief Creative Officer Sasha Valentine, after a successful tenure at cosmetics
rival Fresh.
Under Panagakis’s leadership, Fresh successfully
expanded into the North American market, both in its stand-alone stores and
through a lucrative partnership with Sephora. The success at Fresh is most
noticeable for Panagakis’s commitment to Fresh’s online presence and a more
direct relationship with customers; a relationship that has been integral to
her new company's business model.
The company's creator, while transitioning away
from daily operations, will be involved in the company’s new leadership
structure. Deere will be joining the Board of Directors but appears quite
confident that her brainchild is in safe hands. “I am so proud of what we've
built together and am confident Stacy, Sasha and the team will continue to
build on this foundation to take Lime Crime to a whole new level!”
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