Tengram takes on Lime Crime

Lime Crime founder Doe Deere
Lime Crime founder Doe Deere

Lime Crime, the cult beauty brand renowned for its ‘unicorn-inspired’ make-up, has been acquired by Tengram Capital Partners.

Announcing the acquisition, Tengram partner Richard Gersten said Lime Crime is “truly unique among beauty brands, with a powerful following and a deep understanding of its consumers and their expressive approach to cosmetics”.

“In an era of beauty brand proliferation, Lime Crime’s authenticity and innovation stands above the rest.

“We look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects.”

Founded by Doe Deere and Mark Dumbelton in 2008 to “meet the need for high-quality vibrant products in unique colours the market lacked”, Lime Crime is “a cult favourite among fashion-forward beauty aficionados” famous for its Unicorn Lipsticks, Velvetines (ultra-matte liquid lipsticks) and Diamond Crushers lip toppers.

“A digital-first company”, Lime Crime’s flagship is Limecrime.com but the brand is also available at leading retailers such as Bloomingdales and Ulta.com in the US and at Cult Beauty, FeelUnique and Selfridges in the UK

Under the acquisition the company will further “pursue select retail partnerships to make its beloved products available to more unicorns wherever they shop”.

Stacy Panagakis, the new CEO of Lime Crime, said she was delighted to be joining the company “at this pivotal moment”.

“Lime Crime is a millennial brand with a message that resonates with women everywhere – ‘it’s OK to be bold, experiment and have fun!”

“The partnership with Tengram is an important next step in the brand’s evolution, bringing deep industry expertise and greater opportunities to offer unicorns and women everywhere the Lime Crime magical universe.

“As we expand the brand’s footprint and offerings, Lime Crime will continue to be a brand that stands apart, fulfilling its mission to revolutionise makeup, empower women and smash traditional boundaries.”

Meanwhile Deere has transitioned out of day-to-day operations at the company and has joined the company’s board of directors.

“I founded Lime Crime on the belief that beauty is a form of freedom,” she said.

“We should all be allowed to express ourselves unapologetically.

“Over the last decade, unicorns all over the globe have taken that idea and made it their own, propelling us to where we are today.

“I am so proud of what we’ve built together and am confident that Tengram will continue to build on this foundation to take Lime Crime to a whole new level.”

She also took to Instagram to reassure the brand’s 4.4 million social media followers that she (and Mark Dumbelton) will maintain an active role at Lime Crime.

“As founders, we are the guardians of this brand and it’s our job to ensure that the original animal-friendly values and culture of female empowerment and radical inclusion remain intact,” she said.

“We’ll provide key insight and guidance to the team to ensure we remain mindfully committed to our brand’s mission, and you – our loyal fans.

“I will also still happily contribute to product development and even pitch in on social media sometimes.

“We may no longer be in charge of the day-to-day, but our hearts and minds are still passionately invested in Lime Crime.”

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