When Luxury Brand Partners founder and CEO Tev Finger pitched his idea to Estée Lauder Companies -- an in-house brand incubator that he would run after the company bought his brand Bumble & Bumble -- the company almost went for it.
"I give a lot of credit. It's hard for a company that buys brands that are profitable to even contemplate taking a risk on incubators," Finger said on the Glossy Beauty Podcast. "It ended up not happening."
That was around 2006, Finger recalled. But all these years later, he still sees Luxury Brand Partners, which he founded in 2012, as an incubator for beauty conglomerates in everything but name.
"I'm actually an arm of them," Finger said. "We kind of line it up for them to make an easy acquisition. We know the things they're looking for." Since the Bumble & Bumble acquisition, Finger has sold Becca to ELC, Pulp Riot to L'Oréal and Oribe to Kao Corporation. Other brands in the LBP portfolio include R+Co, Patrick Starrr's One/Size and Camila Coelho's Elaluz -- the latter two launched during the pandemic.
Which of the giant beauty companies ends up buying the small companies he sets up is beside the point, as long as one of them does. Not that it's easy.
"It has to be profitable, and it has to be well executed. And you have to have trademarks around the world and licenses -- so when they buy it it's seamless," Finger said. "If you can erase the roadblocks and put it to them on a platter, you're going to get a lot of buyers."