Curtain falls on CoverFX and Mally Beauty

AS Beauty is closing CoverFX and Mally Beauty amid a series of shutdowns in the beauty sector (Ami Colé, Flower Beauty, REN, Apostrophe, Good.clean.goop), while Pat McGrath Labs is heading towards bankruptcy. The brands announced on Instagram the gradual wind-down of operations and customer service, with remaining stock being sold online. CoverFX (acquired in 2022) focused on the complexion + inclusivity combination, while Mally Beauty (2021, Mally Roncal) stood out with its Evercolor Shadow Sticks and Face Defender. These closures coincide with Malin + Goetz UK going into administration (shops closed). Founded in 2019 by Joey Shamah (ex-e.l.f.), AS Beauty targets struggling brands and claims $500 million in annual revenue.