As a part of an undisclosed sale to a third-party, Beautycounter has knowledgeable its Model Advocates they’ve been terminated.
As per the above e-mail despatched out, BeautyCounter terminated its Model Advocates efficient April seventeenth, 2024. Round 65,000 Model Advocates are believed to have been affected.
Who BeautyCounter has been bought off to is unclear however “in reference to the phrases of the sale, the corporate is shutting down its operations”.
Commissions and bonuses in Beautycounter’s now defunct MLM alternative are tracked by way of April seventeenth. Beautycounter advises it expects to pay these commissions and bonuses on or round April twenty sixth.
Beautycounter was based in 2011 by former CEO Gregg Renfrew (proper).
Renfew bought Beautycounter to personal fairness agency Carlyle Group in 2021. On the time Beautycounter had a billion-dollar valuation.
Renfew stepped down as Beautycounter’s CEO afew months after the sale. Renfew reprised her function at Beautycounter in January 2024 on the request of Carlyle Group.
When Carlyle approached Renfew, she tells CNBC Make it, she was simply “loopy sufficient” to simply accept.
She goals to proceed shepherding Beautycounter by way of what she hopes might be a brand new stage of development, whereas burnishing her personal legacy as its founder.
“On the finish of the day, I consider within the firm. I consider within the mission. I got down to change the world [and] I actually imply that,” she says.
Only a few months later, Beautycounter is over and its disengagement from Model Advocates is clinically chilly.
From and after the Termination Date, you shall not maintain your self out as a Firm model advocate or as in any other case partaking in enterprise for, or on behalf of, or in any other case affiliated with, the Firm or its associates.
As a reminder, you stay sure by all post-termination obligations underneath the Model Advocate Settlement, you stay sure by all post-termination obligations underneath the Model Advocate Settlement, together with your confidentiality obligations underneath paragraph 10 of the Model Advocate Settlement.
It’s the e-mail equal of getting known as into the boss’ workplace, getting fired and returning to your desk to search out constructing safety ready.
Presumably Beautycounter’s executives have been taken care of as a part of the sale, so there’s no purpose to proceed maintaining appearances.