It Cosmetics Founder Jamie Kern Lima to Exit Business

The cofounders and chief executive officers of It Cosmetics, Jamie Kern Lima and her husband Paulo Lima, are leaving the business. The Limas are set to exit the business at the end of September, when their contracts are up. It’s been three years since the couple sold It Cosmetics to L’Oréal for $1.2 billion. That year — 2016 — the company was on track to do $400 million in retail sales, according to industry sources. L’Oréal said the business has doubled in size since it was acquired, ascending through the ranks of U.S. beauty companies and launching in 10 new markets. L’Oréal veteran Patrick Kullenberg is stepping in as global brand president. Kullenberg has been with L’Oréal since 1995, most recently overseeing the L’Oréal business in the Nordic region, based in Copenhagen. Before that, he was the global head of Kiehl’s in the U.S., and Biotherm in France. He also worked as general manager of L’Oréal Paris in Spain, and held other marketing positions in the U.K. and France. He is slated to start in September. “After fulfilling my three-year, post-acquisition commitment to continue my role as ceo of It Cosmetics, and with the business doubling in size since the acquisition, the time has

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