Jane pumped with funds to expand presence in mass market
groups to boost its presence in the market with what it hopes will
be the "next great mass market cosmetic brand."
Stone Canyon Venture Partners and the Walnut Group will provide financial backing to help the brand target the entertainment industry.
The brand, sold to private investors by beauty giant Estée Lauder in February 2004, now hopes to expand into areas of promotion and advertising, with tie-ins with theatre, Broadway productions and "the next wave of up-and-coming actresses," according to the company.
"Jane is an extremely high-loyalty brand that delivers department store quality at value prices to mass customers. Our growth in the past two-and-a-half years has been phenomenal and embraced by both the consumer and retail communities," said the company's president and chief executive officer Lisa Yarnell.
"We have introduced over 150 innovative new color cosmetic products with shelf appealing packaging and technologically superior formulations for foundations, bronzers, mascaras, eyeliners and lip. While doing this, we have maintained a highly flexible approach to building account-specific businesses and partnering with retailers. With the financial and strategic support from our new investment partners, we can now bring Jane to the next level," she added.
The firm said it expects to continue to build on its double-digit growth success by taking advantage of the "high image connections" and the "new influencers and advisors to the company."
"We have big plans for Jane and are looking forward to partnering with them," said John Davis, chairman and chief executive officer of Davis Entertainment Company, which will offer brand support.
"Now is the time for Jane to become a megabrand," added James Gould ofthe Walnut Group.
The brand currently claims to fill a niche between value and prestige cosmetics lines. It is sold in mass merchant retailers and certain drugstores throughout the US and Canada.
