Cos Bar has found a buyer — though not the one the industry expected.
The retailer, founded in 1976 by Lily Garfield in Aspen, has been acquired by Michigan-based firm Mitchell Family Office.
Cos Bar was widely understood to be in late-stage conversations with Violet Grey, as reported. WWD understands that Mitchell Family Office made an eleventh-hour bid on the retailer of undisclosed size. Cos Bar did not comment on the switch-up by press time.
“Cos Bar is a brand with deep heritage, a loyal client base, and a phenomenal reputation for excellence in luxury beauty,” said Mark Mitchell, the acquirer’s managing partner. “We are thrilled to partner with the Cos Bar team to honor the company’s legacy while positioning it for future growth. At MFO, we invest in brands with strong founders and passionate leaders, and we see tremendous opportunity to build on Cos Bar’s success with innovation, scale, services and technology.”
Added Oliver Garfield, son of the founder and Cos Bar’s chief executive officer, “MFO is the ideal partner for Cos Bar’s next chapter. Their proven track record of success in growing impactful businesses and shared values perfectly aligns to build on our legacy and accelerate growth as Cos Bar approaches the milestone 50th anniversary. Together, we will be able to expand our reach, enhance the client experience and continue to set the standard in luxury beauty retail.”
Cos Bar operates 21 stores, and has a stronghold on luxury clients in those markets, which range from Aspen to Los Angeles and New York. It is said the company has a basket size into the hundreds of dollars.
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