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RETAIL: Puts second HQ in Newport Beach; $100M in 2018?
Orange County's where the party's at, just ask the folks at Drunk Elephant Holdings LLC.
The Houston-born brand has joined a list of oddly named-and highy successful-beauty companies that call the area their home, including Newport Beach-based Urban Decay Cosmetics LLC and Too Faced Cosmetics LLC in Irvine.
"It just kind of happened organically," said founder and Chief Creative Officer Tiffany Masterson. "My executive team was all already out there, so it made perfect sense to open up [a second headquarters] to accommodate them."
Masterson's staff of about 15 includes Tim Warner, who served as chief executive at Urban Decay. He joined Drunk Elephant in the same capacity in July, shortly after it secured $8.3 million in funding from San Francisco-based VMG Partners, according to Securities and Exchange Commission filings. His colleague John Perasco followed suit and was hired as senior director for digital.
Another Urban Decay transplant is Kat Miller, who 's now director of regulatory affairs at Drunk Elephant. The brand's chief financial officer, Lauren Barrett, was vice president of finance at Too Faced. Senior Vice President of Sales Janet Hector hails from GLAMGLOW, a Too Faced sister company.
Masterson said she was "not approaching people to come work for Drunk Elephant" but to "ask their opinion on who they believed was really good."
"A lot of times it's a mutual thing where ... we're looking, they're looking,...