21 April 2009
Okay, nobody panic...Stila's fate is no longer the grim future I was imagining last week, though it is still far from secure. The company has been sold to Patriarch Partners, explaining the recent website shutdown and all-employee furlough. The Wall Street Journal reports that "Traditionally, beauty products have proved relatively resilient during difficult economic times as women sought small, affordable pick-me-ups. But this recession is proving more challenging for high-end beauty lines, particularly as drugstore offerings have improved in quality. Stila, which maintains a cult following with products such as brown sugar lip gloss and pale seafoam blue eyeshadow, joins other high-end niche beauty lines struggling to tempt cash-strapped shoppers." Good luck to Stila and all their hard-working employees. We're waiting for your comeback!