Color-centric brand Barry M bought out of administration by rival Warpaint
Key takeaways
- Barry M was bought out of administration by Warpaint in a US$1.91 million deal.
- The acquisition includes Barry M’s brand and IP, but not its London factory or staff.
- Warpaint aims to grow UK retail penetration while navigating tariffs and a tough consumer environment.
Iconic British beauty brand Barry M has been bought out of administration by its cosmetics competitor, Warpaint, for £1.4 million (US$1.91 million).
Last year, the brand moved to appoint administrators after warning that “geopolitical issues” and rising prices weighed on its financials since they were absorbed into its cost base. However, according to its most recently released financials, Barry M generated a £17.4 million (US$23.78 million) turnover and a £172,000 (US$235,087) pre-tax profit for the year to the end of February 2024.
Warpaint has provided a trading update, projecting that full-year profits will be lower due to a “challenging consumer and customer environment” and US tariffs. The company said the tariffs imposed by US President Donald Trump cost it £2 million (US$2.73 million) due to early-year uncertainty stalling momentum in the US market.
Sales for 2025 are expected to hit £105 million (US$143.49 million), up from £102 million (US$139.39 million) in the previous year. Underlying profit is forecast to fall from £25 million (US$34.16 million) to £22 million (US$30 million).
“Looking ahead to the new year, we expect to see a return to organic growth across the group and also expect to be able to update the market on further significant new customer roll-outs with our full year results in April,” said Warpaint’s chief executive, Sam Bazini.
Tariffs are not the only challenge Barry M has experienced. The increased competition and rapidly changing trends in the beauty landscape also weighed on its performance. Barry M offers bold cosmetic options that contrast with modern minimalist, skin-care-focused aesthetics. However, many expect colorful makeup to make a resurgence.
The acquisition includes the Barry M brand and intellectual property, but not its factory and staff. Therefore, the deal will result in the closure of the cosmetics brand’s factory in London, UK, and put approximately 100 jobs at risk.
Couldn’t keep up
Incepted in 1982, Barry M was inspired by the punks and New Romantics of the time. It is known for eye-catching colors and is now popular among drag queens nowadays. The brand’s affordable makeup and colorful nail polishes are also positioned as vegan and cruelty-free.
Barry M was founded in the UK in 1982 and became known for bold, affordable color cosmetics.
Barry M is stocked in around 1,300 shops across the UK, including Superdrug, Boots, Sainsbury’s, and Tesco.
However, analysts have said the brand struggled to continue innovating and thus has been overshadowed by competitors. In today’s fast-moving beauty space, Barry M has been more reactive in its operations.
In a similar story, AS Beauty recently announced the closure of its makeup brands, CoverFX and Mally Beauty. The legacy makeup brands said rising industry costs and changes, such as tariffs and the transforming marketplace, contributed to the shutdowns.
Warpaint, which owns W7, Technic, and Man’stuff, expects its acquisition of Barry M to increase sales by expanding its store presence.
“The acquisition of the Barry M brand is expected to accelerate our penetration into key UK retail channels,” said Bazini.
The deal is still subject to court approval. The business move follows Warpaint’s acquisitions of Fish Soho, Dirty Works, Skin & Tan, and Super Facialist last year.
