Cos Bar has found a new owner. The luxury beauty retailer, founded in 1976 by Lily Garfield in Aspen, has been acquired by Michigan-based Mitchell Family Office, after what appeared to be last-minute dealmaking.
The retailer was previously reported to be in late-stage talks with Violet Grey, but it is reported that Mitchell Family Office swooped in with an eleventh-hour bid of undisclosed size. Cos Bar declined to comment on the change.
“Cos Bar is a brand with deep heritage, a loyal client base, and a phenomenal reputation for excellence in luxury beauty,” said Mark Mitchell, managing partner at Mitchell Family Office. “We are thrilled to partner with the Cos Bar team to honor the company’s legacy while positioning it for future growth. At MFO, we invest in brands with strong founders and passionate leaders, and we see tremendous opportunity to build on Cos Bar’s success with innovation, scale, services and technology.”
Oliver Garfield, son of the founder and Cos Bar’s chief executive officer, echoed the sentiment: “MFO is the ideal partner for Cos Bar’s next chapter. Their proven track record of success in growing impactful businesses and shared values perfectly aligns to build on our legacy and accelerate growth as Cos Bar approaches the milestone 50th anniversary. Together, we will be able to expand our reach, enhance the client experience and continue to set the standard in luxury beauty retail.”
Cos Bar currently operates 21 stores across markets including Aspen, Los Angeles, and New York, with a reputation for cultivating a high-value luxury clientele and an average basket size in the hundreds of dollars.
