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!”