Cos Bar, the luxurious magnificence retailer, has been acquired by the Mitchell Family Office, the businesses introduced on Tuesday. Terms of the deal weren’t disclosed.
In an announcement, Oliver Garfield, chief government of Cos Bar, stated that the acquisition will enable the retailer to broaden its attain, improve shopper expertise and assist refine its luxurious magnificence retail proposition. Garfield stated the Mitchell Family Office is the “ideal partner for Cos Bar’s next chapter.”
Mark Mitchell, founder and managing companion of the Mitchell Family Office, added the Michigan-based agency sees “tremendous opportunity to build on Cos Bar’s success with innovation, scale, services and technology.”
Per the assertion, the businesses want to broaden Cos Bar’s geographic enlargement and in addition modernise its companies through Mitchell Family Office’s possession of Swan Beauty, a personalised magnificence know-how firm which makes AI-powered sensible mirrors.
Originally based by Lily Garfield in 1976 in Aspen, Colorado, Cos Bar operates a community of 21 shops all through the US, focussed in well-heeled locales akin to La Jolla, California, Vail, Colorado, and Houston, Texas. It shares premium manufacturers akin to Sisley, Chantecaille, Charlotte Tilbury and Westman Atelier. In September, The Business of Beauty dispelled rumours that the enterprise was set to be acquired by retailer Violet Grey.
Cos Bar’s concentrate on high-net-worth consumers units it aside from different pure play retailers. Its shops additionally perform various personal purchasing occasions and companies for high shoppers, and its assortment of manufacturers and high-touch clienteling method allowed the retailer to deliver a mode of retail extra synonymous with department shops into smaller cities.
In 2015, personal fairness agency Tengram Capital Partners made a “significant” funding within the enterprise. The firm’s chief government, Oliver Garfield, is its second technology of management.
In addition to Swan Beauty, Mitchell Family Office’s portfolio contains various healthcare firms, and a Canadian ladies’s soccer membership.
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