THE WHAT? The Founding father of Uoma Magnificence, Sharon Chuter has vowed to problem the sale of her model to MacArthur Magnificence after the non-public fairness agency introduced the acquisition of the black-owned model’s mental property.

THE DETAILS In accordance with a report revealed by the Enterprise of Trend, quoting an e mail from Chuter, the model’s Founder realized of the sale for the primary time solely after it was a carried out deal. The non-public fairness agency didn’t disclose monetary particulars of the deal however Uoma Magnificence’s gross sales are stated to have totalled US$15 million in 2022.

THE WHY? Studies emerged over the summer season that the model had hit a stumbling block with orders unfulfilled and social media accounts falling silent. Todd Boren, Managing Associate at The MacArthur Firms instructed The Enterprise of Trend, “We noticed a chance to save lots of this firm and switch it fully round.” Boren declined to touch upon Chuter’s reported response to the sale, when contacted by The Enterprise of Trend.