Jane pumped with funds to expand presence in mass market
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 of the 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.