Hilco Streambank was retained by the chapter 7 trustee for Johnson Publishing, the former publisher of Ebony and Jet magazines, to market and sell the Fashion Fair beauty brand.
Fashion Fair was once the largest Black-owned beauty company in the world. The brand was created in 1973 for women of color by the late Eunice W. Johnson, the creator of the Ebony Fashion Fair Show, when she noticed models in the show were mixing foundations to create the right blend to match their hues.
Fashion Fair cosmetics have been sold in high-end department stores throughout the U.S., internationally through outlets in the U.K., France, and Canada and distributors in the Caribbean and Kuwait, as well as through FashionFair.com.
Following a spirited auction, an entity owned by Desiree Rogers and Cheryl Mayberry McKissack, the former CEO and COO of Johnson Publishing, respectively, purchased the Fashion Fair intellectual property assets for $1.85 million.