Lime Crime, the trendsetting cruelty-free/vegan makeup brand, Lime Crime, known for its vibrant color cosmetics has been acquired by Tengram Capital Partners, a leading private equity firm that focuses exclusively on branded consumer and retail companies. Stacy Panagakis, formerly General Manager of Fresh, will join as Chief Executive Officer. Lime Crime’s creative vision will continue under Panagakis, who will work alongside Chief Creative Officer Sasha Valentine, an eight-year veteran of the brand. Doe Deere, Lime Crime’s co-founder, has transitioned out of day-to-day operations and has joined the Board of Directors.
Founded by entrepreneurs Deere and Mark Dumbelton in 2008, Lime Crime is a pioneering, digitally-native beauty brand and well-known trendsetter — from its Unicorn Lipsticks in a rainbow of shades and Velvetines (starting the ultra-matte liquid lip craze), to its best-selling Diamond Crushers lip toppers and most recently, Unicorn Hair. The Tengram acquisition will support Lime Crime’s growth strategy, creating more ways for its passionate consumer base to experience the brand’s unique products and signature whimsical universe.
Panagakis will be instrumental in the brand’s expansion. “Lime Crime is a millennial brand with a message that resonates with women everywhere – ‘it’s OK to be bold, experiment and have fun!’,” she shares. “The partnership with Tengram is an important next step in the brand’s evolution, bringing deep industry expertise and greater opportunities to offer unicorns and women everywhere the Lime Crime magical universe. As we expand the brand’s footprint and offerings, Lime Crime will continue to be a brand that stands apart, fulfilling its mission to revolutionize makeup, empower women and smash traditional boundaries.”