Lip experts Sara Happ receive investment to scale business

Sara Happ, the cosmetics brand that takes care of its consumer's every lip care and colour needs, has sold a minority stake in the business to BGM Venues, helmed by Greg Cooper and industry veteran Robert Mihin.

According to WWD, though the terms of the deal have not been disclosed it has been announced that Greg Cooper will join the company as Chief Executive Officer. Mihin will join the brand’s advisory board, which boasts a slew of entrepreneurs including the likes of Joanna Vargas, Nyakio Grieco and Leslie Blodgett.

Cooper commented: “I met Sara 18 years ago when she was making the Lip Scrub in her kitchen. I have watched Sara build her brand with such passion, grit and an unbridled will to win. When the opportunity arose to make this acquisition, I jumped on it. I and some of the biggest names in beauty are thrilled to be working with Sara to take Sara Happ, Inc. to the next level.”

Sara Happ, who will continue leading the brand's creative, said this marks the first time the brand has taken outside investment since its founding in 2005. The Founder was represented by David Grinberg and Emily Zipperstein of Sidley Austin, LLP on the deal.

The lip-focused sells everything from scrubs and balms to lipglosses and lipsticks. It is distributed in 22 countries and has 1,500 doors in the U.S., including partners such as Saks Fifth Avenue and Anthropologie. Here in the UK, Sara Happ products retail for around the £20 price point and are available through third-party sellers such as Revolve, Amazon and Guru Makeup Emporium.

The company, which takes care of its product development rather than releasing a barrage of newness, has grown by 30% every year since its founding.

Happ commented: “We’re a multimillion-dollar company and we’ve done it without any outside capital. We cannot keep up supply with demand, and I’ve never had this much retailer and customer demand for our products. That’s why the acquisition is so helpful with scaling.”