According to Beauty Independent, West Lane Capital Partners has acquired Mented Cosmetics, a beauty brand owned by Black women.
West Lane Capital Partners’ initial priority is to streamline operations for the cosmetics brand. In January, Mented reportedly halted sales through its website due to insufficient inventory to fulfill e-commerce orders. A relaunch is scheduled for this summer, coinciding with the resumption of e-commerce order fulfillment.
Established in 2017 by co-founders and Harvard Business School graduates KJ Miller and Amanda E. Johnson, Mented Cosmetics debuted with nude lipsticks tailored for women of color, a product category that continues to drive its sales. The brand’s motto, “Pigment is our Passion,” reflects its focus.
Mented Cosmetics has expanded its product line to include mascara, blush, eyeshadow, foundation, and more, as showcased on its website. According to the outlet, prices for these items range from $16.50 to $30.
Initially relying on direct-to-consumer (DTC) distribution, the brand later expanded into retail stores. Currently available in Ulta Beauty, Target, CVS, and Walgreens, Mented Cosmetics intends to refocus on direct-to-consumer sales, according to the outlet.
Despite raising $9 million in venture capital funding over the years, as listed on Crunchbase, the company has encountered some challenges associated with its growth.
Mented Cosmetics reportedly secured $9 million in venture capital funding, which included a $5 million series A round in 2022 led by Corazon Capital and CircleUp Growth Partners. Following approximately four years of operating as a direct-to-consumer (DTC) brand, Mented entered the retail market.
Currently, Mented Cosmetics products are available for purchase at Ulta, Target, CVS, and Walgreens.
