AS Beauty, a New York-based global beauty brand developer, has announced the acquisition of Toronto-based cosmetics brand Cover FX. Founded in 2000 by medical strategist and beauty veteran Lee Graff, Cover FX began as a clinic specializing in skin issues and sensitivities before developing its own cosmetic line. Today, the brand offers innovative formulations and clean ingredients suitable for professional makeup artists, consumers, and the medical community alike.
This acquisition marks AS Beauty's fourth major purchase since its inception in 2019, following the acquisitions of Julep Beauty, Laura Geller, and Mally Beauty. The addition of Cover FX to AS Beauty's portfolio is expected to increase the parent company's size by 20% and boost overall revenue by 40% by 2023.
Cover FX is known for its high-performance color, customization, and skincare products that cater to a diverse range of skin types and complexions. Ralph Azrak, Chief Operating Officer of AS Beauty, expressed excitement about bringing the brand on board and utilizing their resources to fuel innovation and expand their audience in the coming years.
AS Beauty was founded by Alan and Joey Shamah, the original founders of E.L.F Cosmetics, and Victor and Ralph Azrak, who previously ran and sold an apparel business. The company focuses on female-founded brands that deliver real-world solutions to a diverse consumer base. With the acquisition of Cover FX, AS Beauty continues to strengthen its commitment to providing inclusive and accessible beauty products for all.
