Beauty supply retailer Target Beauty Supply has announced it has closed its doors and will cease operations next month, citing “continued pressure from regulators and competitors.”
According to a statement, Target’s move to “immediately discontinue all sales and services with its sister company, Beauty Supply Co. LLC, and partner Beauty Supply Corporation LLC” follows a number of investigations and investigations by the FTC, FDA, and state attorneys general into its business practices, among other things.
As Target’s last day of business ends, we’ll be announcing a new, more comprehensive and transparent vision for Beauty Supply that is focused on ensuring our brands remain a trusted and trusted partner for our customers, the people of California, and the world,” Target Beauty Supplies spokesperson, Brooke Schofield, said in the statement.”
Target’s vision for our Beauty Supply brands is one of great value for our employees and the community.
We are committed to creating the best and most beautiful products and services for our beauty and wellness customers, while upholding the highest ethical standards.
“It’s a sad day for beauty supply retailers, who will no longer be able to sell beauty products.
However, the news is not completely bad.
Target Beauty is not alone in closing down.
The company’s parent company, CVS Health, will also close its doors for good, according to Bloomberg Businessweek.
CVS Health was founded in 1927 and has been the leader in healthcare in the United States since 1996.
It was recently acquired by Rite Aid.
Target Beauty Supply will remain open for business through March 10, 2020, and will remain online until March 30, 2020.