A RENOWNED skincare and beauty brand has filed for Chapter 11 bankruptcy.
The brand is known for its non-invasive anti-aging products.
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SBLA Beauty, known for its Eye Lift Wand and Neck, Chin, & Jawline Sculpting Wand, filed for bankruptcy.
The company has won multiple awards, including Beauty Innovation Awards for eye treatment and anti-aging.
SBLA Inc., based in Boca Raton, Florida, filed for bankruptcy in the Southern District of Florida on March 11.
According to the filing, the company owes between $1 million and $10 million in debt.
As of the time of reporting, SBLA’s products are available on its website and Amazon.
It is unknown whether production or sales will be affected by the company’s bankruptcy status.
COMPANY HISTORY
According to the SBLA website, founder and CEO Randi Shinder entered the beauty industry in 2002 by launching her first brand, “Clean,” garnering significant attention.
Shinder then collaborated with Jessica Simpson to create “Dessert Beauty.”
She took up an interest in clinical skincare, introducing the first-ever lip plumper “LipFusion,” which sold 3.2 million units at Sephora in its first nine months on the market.
Fusion Beauty launched following the success of Lip Fusion, and became the first brand to exceed 50 million units in sales at Sephora.
Shinder sold a controlling stake in the brands’ equity in 2006, and the brands merged to form Fusion Brands Inc.
Shinder led Fusion Brands Inc. until 2009, when she sold her remaining equity.
After selling Fusion, Shinder launched SBLA in 2018.
“At SBLA, our mission is to deliver products that are based on science and technology and truly make a difference in everyday lives in women and men from the comfort of their own homes,” Shinder said on the SBLA website.
BANKRUPTCY BLOWBACK
According to the bankruptcy filing, SBLA has assets between $500,001 and $1 million.
“The SBLA Beauty brand maintains a unique position with consumers that want to feel their best without invasive procedures, pain, or downtime,” the website says.
“We understand and maintain perspective and respect for aging beautifully and are dedicated to providing real solutions backed by science.”
The beauty and cosmetics retail sector has been heavily impacted by macroeconomic concerns.
Major cosmetic brand Avon Products also filed for Chapter 11 bankruptcy in August, facing hundreds of lawsuits and $1 billion in debt.
Revlon, another iconic cosmetics brand, filed for Chapter 11 bankruptcy in June 2022, facing $3.3 billion in debt as well as competition and supply chain issues.
