Hourglass Cosmetics is readying to open a retail concept in New York.
The beauty company — known for products such as its Ambient Lighting Palettes ($62), Veil Mineral Primer ($54) and Vanish Seamless Foundation stick ($46) — has signed a lease for approximately 875 square feet of retail space at 42 Crosby Street in Manhattan. An Hourglass spokeswoman confirmed the location, noting that construction has not yet started so the opening date remains up in the air. The listing was with RKF.
The location puts Hourglass in SoHo — near Bloomingdale’s, SoulCycle, Devachan hair salon, Fellow Barber and Paintbox nail salon.
Hourglass opened its flagship in Venice, Calif., in 2014. The business was founded by Carisa Janes in Barneys New York in 2004. Aside from its own shop, the brand is sold in Sephora (in many countries), Bergdorf Goodman, Nordstrom, John Lewis, Lane Crawford, Harvey Nichols, Mecca, Blue Mercury, Net-a-porter, Liberty, Space NK and Harrods.
In March, two industry sources confirmed that Hourglass had hired investment bank Ohana to consider a sale process. The business is said to have about $70 million in net sales. (Hourglass declined to comment on the sale process.)
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When Hourglass launched its Vanish Seamless Foundation Stick in July 2016, industry sources estimated it would do between $15 million and $20 million in retail sales in year one. That product became the most successful in the company’s history. Earlier this year, Hourglass launched a 20-lipstick collection called Girl, with former Calvin Klein model Jenny Shimizu as the face.