Lime Crime, the hot, trend-setting, cruelty-free makeup brand, has been acquired by private equity firm Tengram Capital partners. The company, started 10 years ago by Doe Deere, offered a unique line of products and quickly became a cult favorite among fans who love self-expression.
Stacy Panagakis, formerly of Fresh, will be brought on as interim CEO.
When Lime Crime came on the scene, it took the beauty industry with the introduction of bold and bright colors. Before long, the company had a full throng of fans from London to Los Angeles.
Tengram will continue to concentrate on Limecrime.com and a growth strategy that will offer new and unique products.
Tengram partner Richard Gertsen says Lime Crime is a unique brand with a deep customer base. It is our goal to continue to give the consumers what the want. “Lime Crime has a tremendous portfolio, and we welcome opportunity to pick up where Doe and her team left off,” said Gertsen.
Panagakis brings a great deal of experience and a proven track record to the table. Aside from Fresh, she has worked for Sephora, Origins Natural Resources, Clinique and Stila. In executive roles, she worked hard in developing consumer strategies and ways to drive traffic.
“Joining Lime Crime is a tremendous opportunity. It’s a millennial brand that resonates with women all over the world.”
The company’s evolution through the partnership with Tengrem will offer greater opportunities for expansion. Panagakis says the company will continue to extend its footprint. “It is our mission to continue to keep Lime Crime as a company that is unique and stands apart.”
Lime Crime creator Doe Deere will no longer be involved to day-to-day operations. She will have a seat on the Board of Directors, and will continue to work behind the scenes in a number of roles.