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Wednesday
Jul252018

Trendsetting Makeup Brand Lime Crime Is In Expansion Mode Now That Tengram Capital Partners Is Running The Company

Doe Deere and Mark Dumbelton thought they could make a difference in the beauty industry in 2008, and they were right. The two entrepreneurs had enough innovation and creativity in their beauty genes to come up with the name, Lime Crime, and that brand name got an instant reaction from the beauty world. Deere and Dumbelton had enough edginess in their digital marketing plan to develop a cult following, and that’s exactly what happened. The two founders wanted to redefine the beauty industry using a mixture of crazy names for lipsticks and bold citrus colors to make those crazy names stick in the minds of young consumers. The company’s Unicorn Lipsticks hit the market like a bull running through a Spanish town, and unicorn lipsticks flavors are still popular products. Thanks to some brilliant thinking by the Deere and Dumbelton, the brand is an international hit. Stores like Bloomingdales, Selfridges, and Ulta.com carry the complete Lime Crime line. The funky brand is a mixture of products like Diamond Crushers, Velvetines, Unicorn hair, and the now famous Unicorn Lipsticks in every color under the sun.

The company’s website, limecrime.com, is still ground zero for the brand. But the executive team behind the brand is new. Tengram Capital Partners, a private equity firm, recently acquired Lime Crime. When a company gets absorbed by a private equity firm, things start to change in terms of management and the marketing direction of the brand. Tengram decided to replace Deere as the CEO and bring in an industry expert to run the company. That expert is the former general manager of Fresh, Stacy Panagakis. Panagakis will continue to focus on current retail partnerships as well as other retailers that can expose the brand to consumers who don’t know anything about the brand. The management team likes to call its customer base, unicorns, and they want those unicorns to see the brand wherever they shop.

 

New CEO Stacy Panagakis has a proven track record when it comes to developing retail marketing concepts for beauty brands. She is a strong leader who has solid connections in the beauty industry. So the partners at Tengram are expecting big things from the brand, and from Stacy Panagakis, according to Tengram partner, Richard Gersten. Panagakis is ready to sell more than the sizzle that seems to attract interest from consumers who don’t fit into the brand's typical client base. Panagakis wants to expand the brand, so it attracts more than a cult following, and she knows that is a strategy that is easy to talk about but hard to implement. But the new management team is ready to empower consumers to express their individuality and to move past the traditional concepts of beauty imposed by the industry. Tengram wants Panagakis to do what she did for Sephora, and Stacy says she is ready to tackle that challenge.

The Millennial market will still be the focus of the brand, according to Panagakis, but the company’s message is for women of all ages. Panagakis lives by the slogan, “It’s okay to experiment and be bold as long as you’re having fun.” Stacy will continue to market the edginess of the brand, but she also wants to continue to revolutionize the makeup industry. She wants to break through the old industry taboos that restrict brand growth. Her plan is to expand the product line as well as expand their presence at the retail level. Panagakis will continue to work with the brand’s chief creative officer, Sasha Valentine. But Doe Deere will not be part of the day-to-day decision-making process, according to a Tengram spokesperson. Deere will be a board member. Deere can still dream, explore, and inspire the team, and Panagakis welcomes that unicornish energy.

 

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