Partnerships with powerhouse Internet celebs such as Jeffree Star and James Charles (pic, in white) helped revenue top US$400mil (RM1.8bil) in 2019. But Morphe severed ties with them. Results at Forma, which generates about 80% of its sales from Morphe, have since suffered. — Bloomberg
MORPHE makeup, which rode the power of social media stars to rapid growth and a US$2bil (RM8.8bil) valuation, says it’s planning to close all its US stores.
On Thursday, the company listed about 20 locations on its website. Forma Brands, Morphe’s parent, didn’t respond to a request for comment. Morphe also sells through its eCommerce site and Ulta Beauty.
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