Make-up artist Suzie Wokabi made Sh. 45 million from the sale of her firm Suzie Beauty to Roto tanks maker Flame Tree.
This is according to Flame Tree’s annual report. Ms Wokabi launched her cosmetics start up in 2009, positioning Suzie Beauty to produce a range of products targeting African women. The Kenyan beauty brand was propelled to global fame after Oscar award-winning actress Lupita Nyong’o publicly announced that she was wearing a Suzie Beauty lipstick during a TV interview on the Queen Latifah Show.
Her product line included facial cosmetics, including foundation, concealer, eye-shadow and liner, mascara, lip-gloss, blush, lipstick, powder and a full line of applicator brushes.
“The group also acquired a brand in Kenya by the name of ‘Suzie Beauty’ and inventories for Sh45 million subsequent to the year end,” said Heril Bangera, Flame Tree chief executive.
Other recent deals in the cosmetics and beauty industry includes French firm L’Oreal’s April 2013 acquisition of Nice & Lovely maker Interconsumer Products in a deal estimated at Sh3 billion.
