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Markwins’ Eric Chen Takes the Long View

Don’t call Eric Chen cheap.
The founder and chief executive officer of Markwins Beauty Brands is proud to admit he likes a good bargain — in June, for instance, the company announced its latest acquisition, the cosmetics brand Lorac, which sources referred to as “financially distressed” — but he has a better word for it.
“You can quote me on this — Markwins is a very thrifty company,” said Chen, of the beauty company he founded as a young business school graduate on July 4, 1984, three days after his 26th birthday. “We treasure every dollar.”
An immigrant from Taiwan, Chen’s penchant for frugality, humble nature and entrepreneurial mindset run deep in Markwins’ company DNA — from its unconventional acquisition strategy that bucks the industry trend of buying brands with sky-high valuations, to its vertically integrated manufacturing infrastructure and its unassuming headquarters in an office park on the outskirts of Los Angeles.
Under Chen’s pragmatic watch, the business has chugged along for the past three decades, from its beginnings selling imported cosmetics kits to department stores, to today, where a stable of acquired brands — Wet n Wild, Physicians Formula, Black Radiance, Bonne Bell and Lip Smacker — are among some of the fastest-growing in a

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Via:: https://wwd.com/beauty-industry-news/beauty-features/markwins-eric-chen-takes-the-long-view-1202893361/