Who Owns Milk Makeup? The Ownership Unveiled
Milk Makeup is currently owned by Amplify Brands, a brand incubator and accelerator owned by and operated by the same entities that established North American cannabis giant, Curaleaf. Prior to Amplify Brands taking ownership, the brand was a subsidiary of Waldencast, a global beauty and wellness company.
The Origin Story of Milk Makeup
Milk Makeup burst onto the scene in 2016, instantly capturing the attention of Gen Z and Millennials with its vegan, cruelty-free, and paraben-free formulations, combined with a cool, edgy aesthetic. The brand was the brainchild of Mazdack Rassi, Erez Afonso, Dianna Ruth, and Georgie Greville, all of whom brought unique expertise to the table. Rassi, co-founder of Milk Studios, provided the creative hub and cool-factor credibility.
From Start-Up to Acquisition
Milk Makeup quickly gained a dedicated following thanks to its innovative products and commitment to inclusivity. The brand’s direct-to-consumer (DTC) strategy and strong social media presence were key to its rapid growth. In 2021, Waldencast, a special purpose acquisition company (SPAC), acquired Milk Makeup, aiming to leverage its global reach and operational expertise to further expand the brand.
The Waldencast Connection
Waldencast’s acquisition of Milk Makeup was part of a larger strategy to build a portfolio of high-growth, mission-driven beauty and wellness brands. The intention was to capitalize on Milk Makeup’s existing success and accelerate its international expansion, while maintaining its core values. However, Waldencast would later divest itself of Milk Makeup.
The Amplify Brands Takeover
In the summer of 2024, Waldencast sold Milk Makeup to Amplify Brands, a new entity created within the organization that operates Curaleaf. Amplify Brands plans to use its existing operational structure, originally established for Curaleaf’s products, to grow and manage the Milk Makeup business.
Why the Shift in Ownership?
The sale to Amplify Brands signals a strategic shift for Waldencast, possibly driven by a desire to streamline its portfolio or focus on other areas of growth. For Milk Makeup, the acquisition by Amplify Brands could potentially open up new avenues for innovation and distribution, particularly within the cannabis-adjacent wellness space, though official plans have not been announced.
Key Figures Involved
While the brand has changed ownership, key figures from the original Milk Makeup team have remained involved in the brand’s direction. This continuity helps to preserve the brand’s identity and maintain its connection with its loyal customer base.
What This Means for Consumers
The change in ownership is unlikely to result in immediate, drastic changes for Milk Makeup consumers. The brand’s commitment to vegan, cruelty-free, and paraben-free formulations is expected to remain intact. However, consumers may see subtle shifts in product offerings, marketing strategies, and distribution channels as Amplify Brands implements its vision for the brand.
Future Prospects
The future of Milk Makeup under Amplify Brands appears promising. The company’s operational expertise and resources could help the brand to reach new heights and solidify its position as a leader in the clean beauty space. Further strategic moves and brand expansions are anticipated.
Milk Makeup: A Timeline of Ownership
| Year | Event | Owner |
|---|---|---|
| 2016 | Milk Makeup Founded | Mazdack Rassi, Erez Afonso, Dianna Ruth, Georgie Greville |
| 2021 | Acquired by Waldencast | Waldencast |
| 2024 | Acquired by Amplify Brands (Curaleaf) | Amplify Brands |
Brand Values and Sustainability
Milk Makeup has always been a champion of inclusivity and sustainability. The brand’s commitment to vegan and cruelty-free products has resonated with consumers who are increasingly conscious of the ethical and environmental impact of their purchases. It will be vital for the brand to continue upholding these values under its new ownership.
Milk Makeup’s Impact on the Beauty Industry
Milk Makeup has had a significant impact on the beauty industry, paving the way for other brands to embrace clean formulations and inclusive marketing. Its success has demonstrated that consumers are willing to pay a premium for products that align with their values. The brand has successfully tapped into a growing market of socially conscious consumers.
Frequently Asked Questions (FAQs)
1. Is Milk Makeup still cruelty-free and vegan?
Yes, Milk Makeup is still committed to being cruelty-free and vegan. The brand’s website explicitly states this commitment, and it’s a core part of their identity, meaning that this is extremely unlikely to change under Amplify Brands ownership.
2. Will the product formulations change under the new ownership?
While there’s no immediate indication of drastic changes to product formulations, it’s possible that minor adjustments could be made as Amplify Brands optimizes production and distribution. However, any significant alterations would likely be communicated to consumers transparently.
3. Where can I buy Milk Makeup products?
Milk Makeup products are currently available at Sephora, on the Milk Makeup website, and at select retailers. The company’s new ownership has not yet expressed any plans to cut ties with its existing retailers, which may or may not change in the future.
4. What are Amplify Brands’ plans for Milk Makeup?
Amplify Brands plans to leverage its existing operational structure to expand and manage the Milk Makeup business. The full extent of its plans hasn’t been publicly disclosed, but a focus on efficiency and growth is expected, including a likely expansion into cannabis-adjacent wellness products.
5. Will the price of Milk Makeup products change?
It’s difficult to predict whether prices will change. Market conditions and production costs can influence pricing decisions, so any price adjustments would likely be driven by these factors rather than solely by the change in ownership.
6. Will the original founders still be involved with Milk Makeup?
While the founders are no longer the owners of Milk Makeup, certain key members of the original team may still play a role in the brand’s direction and creative vision. However, the extent of their involvement remains unknown.
7. Is Milk Makeup still considered a clean beauty brand?
Yes, Milk Makeup continues to be recognized as a clean beauty brand. They are committed to free formulas and products, as well as sustainable business practices, according to their social media and website.
8. What impact will this have on Milk Makeup’s social media presence?
It is unlikely that Milk Makeup’s social media presence and style will experience any dramatic changes. The brand will continue to use social media to engage with its audience and promote its products. Some strategic shifts may happen as Amplify Brands tries new tactics.
9. Will Milk Makeup be expanding into new product categories?
While specific product categories haven’t been announced, Amplify Brands may explore new categories to further expand Milk Makeup’s reach and appeal. Any new launches will align with the brand’s commitment to innovation, cruelty-free practices, and vegan formulations.
10. How does this acquisition affect Milk Makeup’s international presence?
Amplify Brands’ global resources could potentially accelerate Milk Makeup’s international expansion and solidify its position in key markets around the world. However, details on specific strategies remain undisclosed.
11. What are some of Milk Makeup’s most popular products?
Some of Milk Makeup’s most popular and iconic products include the Hydro Grip Primer, Kush Mascara, and Lip + Cheek sticks. These products are known for their high performance, clean formulations, and ease of use.
12. Where can I stay updated on future developments from Milk Makeup?
To stay informed about Milk Makeup’s latest news, product launches, and future developments, you can follow the brand on social media, subscribe to their email list, and visit their website. Stay tuned for new products and innovative strategies that Milk Makeup will implement under Amplify Brands.