According to WWD, Philippe Pinatel, formerly president of Estée Lauder Companies as global brand president of MAC Cosmetics, recently took on the role of CEO of Katherine Power’s minimalist beauty brand Merit Beauty.
Merit Beauty debuted in early 2021. It made waves in the industry with its Solo Shadow eye shadow, which achieved an impressive $1 million in sales within a mere two weeks of its launch. The brand’s commitment to excellence across all aspects of its operations has proven successful, evidenced by its profitability and remarkable omnichannel retail sales of over $100 million in 2023, just three years into its business journey. Katherine Power, the founder and chairperson of Merit, expressed her excitement about working closely with Philippe and the exceptional leadership team to sustain their position as a provider of best-in-class products and a trailblazer in creative vision.
Philippe Pinatel’s departure from MAC earlier this year opened the door for Aïda Moudachirou-Rebois to succeed him. Pinatel acknowledged Merit’s extraordinary brand, which has swiftly emerged as a leader in the modern beauty landscape, attributing its success to a highly engaged and distinct consumer base. He eagerly looks forward to contributing to Merit’s ongoing accomplishments, fostering innovation, creativity, and an elevated beauty experience for their valued customers.
Since its inception, Merit Beauty has expanded its reach to the United Kingdom and successfully closed a series A funding round, securing $20 million in investments led by L Catterton. The brand has swiftly captured the hearts of consumers, establishing a strong and devoted customer base while achieving remarkable profitability. The addition of Philippe to Merit’s outstanding management team further solidifies their growth trajectory.
Courtney Nelson, Principal at L Catterton, praised Merit’s rapid ascent, describing it as a beloved brand with a dedicated customer following and exceptional profitability. With the arrival of Philippe Pinatel, Merit’s management team continues to expand, ensuring the brand’s continued success and future achievements in the dynamic beauty industry.
