Jared Blandino, Estee Lauder Companies, Jared discussed on Gloss Angeles
Jared blandino, founder of two faced, is leaving the company. Yes, he and Jeremy, his partner, both in the company and in life, they are leaving two faced and I'm a little shocked, I guess I shouldn't be surprised to face sold to Estee Lauder companies over 5 years ago. We talk about that epic celebration all the time. Yes, besides it cosmetics. I think like the hugest largest acquisition, it was over a $1 billion, right? It was crazy. And it was at the height of Instagram makeup when two faced was just owned that space, like better than Sussex mascara, sweet peach. Yeah, I do love the sweet peach palette, yes. Like top three eyeshadow palettes ever. They're just such a successful successful company. All thanks to Kirby said, Jared and his husband, Jeremy. They started at 24 years ago. Yes. I mean, they were working in a mall selling their products, essentially. So they've built so much. I don't know what to think. I just feel like we're going to start to see this. It's like a lot of exits from people who created these companies and ended up selling. Wendy's on her for those of you that may not know is no longer affiliated with urban decay. She left the company, which is also interesting because she didn't record any sort of official farewell. It was a very quiet exit that Kirby and I actually only found out recently through conversations with current urban decay. People at urban. So it's nice that Jared is able to sort of like say goodbye, say goodbye, kind of control that narrative, you know? Yeah, I felt like he was very transparent about what was going on. I did not expect that, but basically he posted a couple minute video on his Instagram, y'all can go watch it. It's at Jared blandino on Instagram, but he said, you know, when they were acquired by Estee Lauder companies, they had never worked in such a corporate environment before. I mean, imagine like imagine running your own company for so long and then being bought out by a major corporation and then no longer being able to control it in the or run it the way that you are used to doing it. To anyone that would be like a shock, right? Yes. And I feel like because of how corporate works, you're not able to execute quickly. There's too many cooks in the kitchen, so much red tape, so many people approving so many layers and levels. I should say, Jared basically said, in so many words, that they felt restricted. They felt they couldn't be as creative as they would like to be. And that they are not done. Yeah, yeah. Okay, so we know that typically when you sell your company to a brand, you sign some sort of contract for 5 years and that period you can not start your own competing brand in the category. So this would be obviously cosmetics, probably skin care as well. Maybe that had to do with her quiet sudden exit, right? I mean, that would be breach of contract if she did sign something like that. So would you get forced out or would you be penalized financially in some way? I don't think she would do anything that could potentially jeopardize Cali ray. No. You know what I'm saying? That's why I'm like, how does this work? Does anybody have Intel call the hotline?.