ARIANA GRANDE ACQUIRES ASSETS TIED TO R.E.M_ BEAUTY BRAND FOR US$15 MILLION
THE WHAT? Ariana Grande has acquired the assets to her r.e.m. beauty brand from Forma Brands, which has recently filed for bankruptcy, according to Bloomberg.
THE DETAILS The U.S. singer has purchased all r.e.m’s physical assets from Forma Brands, including its existing inventory, with the transaction needing approval from the judge overseeing the bankruptcy case in Delaware.
THE WHY? According to court records Grande has been trying to regain control of the brand since October 2022, which is around the time Forma reps first acknowledged it was considering bankruptcy.
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