Struggling indie brand Stila Cosmetics has found a last-minute savior: venture capital firm Patriarch Partners LLC. The deal is expected to be finalized on Monday.
According to several sources, it's been a rocky several weeks for the brand, which is said to have furloughed its entire workforce the last week in March due to the company's inability to make payroll. Former owner Sun Capital Partners, which had acquired the brand from the Estee Lauder Cos., is said to have pulled the plug on the company's financing at that time. The deal was confirmed late Sunday afternoon by Stila ceo Deanna Kangas and Patriarch Partners spokesperson Taylor Griffin.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)