Milani Cosmetics, a portfolio company of Gryphon Investors, said Feb. 6 it named David M. Berk as its CFO. Berk for the past 15 years has held senior positions at several divisions of L’Oreal USA.
Gryphon’s Milani Cosmetics Names David Berk CFO
Marks Third Recent Addition to Management Team at Fast-Growing Indie Beauty Brand
February 6, 2019 (San Francisco) – Milani Cosmetics (“Milani” or “the Company”), a leading “masstige” beauty company, announced today it has appointed industry veteran David M. Berk as Chief Financial Officer. Mr. Berk reports to CEO Grace Ray. San Francisco-based private equity firm Gryphon Investors acquired a majority stake in the Company last June.
Matt Farron, Principal at Gryphon, said, “We are focused on building out Milani’s executive team and are pleased at the amazing talent we have brought into the company since our investment. David’s strong financial background and consumer products experience will be key drivers as we build a solid financial foundation for Milani’s next phase.” In addition to Mr. Berk, the Company hired Ms. Ray in July 2018 and named Evelyn Wang Chief Marketing Officer in October 2018.
Mr. Berk has more than 20 years of experience as a financial and accounting executive in the consumer goods industry. For the past 15 years, he has held senior positions at several divisions of L’Oreal USA. As Worldwide CFO at NYX Professional Makeup, he helped centralize governance while working in close collaboration with over 70 countries at this multi-channel brand. As Vice President – Finance & Accounting at Urban Decay Cosmetics, he was directly responsible for integrating this acquisition into the parent company. His earlier role at L’Oreal included Vice President, Finance for all brands in the Professional Products Division. Prior to L’Oreal, Mr. Berk held senior financial positions at LVMH Moet Hennessy Louis Vuitton and Tiffany & Co., Inc. He began his career as a CPA after receiving a BS in Accounting from Binghamton University School of Management. He also holds an MBA from Cass Business School in London.
Ms. Ray said, “We are delighted to welcome David to Milani. We are making great strides in expanding the Milani and Jordana brands, and his experience at growing multi-channel consumer brands, streamlining supply and inventory chains, and managing financial components across a global enterprise will be invaluable as we introduce more products and expand our customer relationships.”
“I couldn’t pass up the opportunity to move into this fast-growing indie powerhouse as Milani has become the go-to multi-cultural brand for today’s consumers. I’m excited to work with Grace and the Gryphon team to drive the strategies that will result in profitable growth,” commented Mr. Berk.
About Milani Cosmetics
Milani, headquartered in Los Angeles, is a market leader in the cosmetics industry, best known for its top-quality products for women of all skin tones and beauty goals. The company began with the creation of Jordana Cosmetics in 1986 and grew with the purchase of Milani in 2001. Milani products are primarily manufactured in the U.S. and Italy. The company’s face, lip, and eye products are available in 75 countries and through key domestic retailer partners including Walmart, Walgreens, Ulta, Target, and CVS. Please visit www.milanicosmetics.com for more information.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management teams. The firm has managed over $4.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $200 million in portfolio companies with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.