Eric Chen, founder and CEO of Markwins Beauty Brands (MBB), has died at the age of 63.
Chen, came to the U.S. from Taiwan with his sights set on building a global business. In 1984, he created Markwins as an importer of cosmetics from Taiwan. By 1986, Markwins had already changed the future of American cosmetics by being the first to introduce multi-palette compacts to the US market, creating a retail sensation that continues to drive millions of dollars in beauty business every year. Six years later, Markwins launched its very first brands: The Color Workshop and The Color Institute.
Building off the success of its initial launches, the company acquired AM Cosmetics in 2003—along with its iconic brands, Wet n Wild and Black Radiance. By 2007, Markwins had inked a licensing deal with The Walt Disney Company. From 2015-2018, Markwins continued to expand its international footprint with the acquisitions of Lip Smacker and Bonne Bell, as well as prestige Hollywood beauty brand, LORAC Cosmetics.
Today, Markwins owns vast manufacturing facilities in China and Mexico. The company’s products can be found in more than 50,000 retail locations around the world.
Linda Chen will continue as chairman and CEO of MBB. John Stephenson will manage everyday operations. The executive team includes Eric Weeks, president of sales, North America; Giancarlo Di Majo, managing director, international sales; Jane Chen, chief operating officer, manufacturing; Julie Hsu, EVP-finance; Alice Chen, SVP-marketing and head of corporate communications; Elaine Chen, SVP-marketing; and Emily Huang, SVP-marketing.