Stila's been saved.
The indie makeup brand faced bankruptcy a few weeks ago, canceling online orders and putting the entire staff on vacation.
Yesterday, they announced they'd been bought by venture capital firm Patriarch Partners LLC., the company's first foray into beauty. It's Stila's third owner in as many years, Estee Lauder sold the brand to Sun Capital in 2006 and they just withdrew their financial support last month.
Meanwhile, we love Stila but always thought the brand occupied an awkward place in the beauty market. Their packaging is editorial eye-candy targeted at a youthful audience and accompanied by very adult price tags.
But, they're one of the lucky few companies to find a buyer before reaching the financial point of no return, which means they're doing just fine.
