Beauty Brands Names Caryn Lerner Chief Executive Officer

Lerner Brings Strategic Leadership and Proven Track Record of Growth

Lyn Kirby Remains Chairman of the Board

KANSAS CITY, Mo.–(BUSINESS WIRE)–Beauty Brands, LLC announced today that it has named Caryn Lerner Chief
Executive Officer. Current Chairman and CEO, Lyn Kirby, will remain
Chairman of the Board.

Lerner has almost four decades of retail experience. Prior to joining
Beauty Brands, she was an Operating Partner at Palladin Capital Group,
LLC, where she sourced investment opportunities for the luxury, retail
and consumer product categories. Previously, Lerner served as President
and CEO of Holt Renfrew, LTD, and President and Chief Marketing Officer
of Escada, U.S.A.

“We are thrilled to have Caryn lead the Beauty Brands team going
forward,” said Hadley Mullin, a member of the Beauty Brands Board. “She
is an accomplished retail executive who is 100% dedicated to an
excellent customer experience. Caryn is also a proven leader with a
track record of turning that customer focus into significant top and
bottom line growth. Her strategic thinking and strong business acumen
will further strengthen the Beauty Brands platform.”

Lerner commented, “I am honored by the opportunity to be a part of such
an incredible and growing organization. Beauty Brands is in a very
strong position right now, with a loyal customer base, talented team,
and high-quality offering including a wide selection of beauty products
from famous brands to indie labels, together with highly attractive
salon and spa services. I look forward to leveraging those advantages to
bring the Company into its next phase of growth.”

Kirby said, “This management transition to a CEO resident in Kansas City
has been our ambition since the time of our initial investment in Beauty
Brands, and I am delighted that, in Caryn, we have found an experienced
CEO who can lead the Company through its growth phase.”

Mullin added, “Lyn has brought key leadership and vision to the Company
in its early phase, and we are very happy that she will continue in her
role as Chairman and a key investor in Beauty Brands.”

Caryn Lerner Biography

Caryn Lerner has almost forty years of retail experience, including as a
consultant and a company executive. Since 2013, she served as an
Operating Partner at Palladin Capital Group, LLC, where she sourced
investment opportunities for the luxury, retail and consumer product
categories. She was also responsible for the due diligence and company
assessment processes, including business strategy, financial reporting
and planning, management, operations, marketing, human resources, and
merchandising. Prior to Palladin Capital, she served as a Senior Retail
Advisor for Boston Consulting Group since 2012, providing retail luxury
brand opinion and expertise for strategic research and analysis
projects. Between 2011 and 2012, Lerner served as President and CEO of
Daffy’s. The first CEO outside of the founding family in the 50-year
history of the company, she reset the vision and strategy for the
company. From 2004 to 2010, she served as President and CEO of Holt
Renfrew, LTD, growing revenue significantly and establishing the company
as an employer of choice in the city of Toronto. Between 1998 and 2003,
Lerner was President and CMO of Escada, U.S.A., following two years as
the Division President of Escada Sport. In addition, Lerner previously
held positions with QVC Networks, Jones New York, Barney’s and
Bloomingdale’s. Lerner graduated from NYU with a B.F.A. in Theatre.

About Beauty Brands

Beauty Brands is your one-stop-shop for anything and everything beauty,
with a focus on quality and value. Beauty Brands offers thousands of
salon- and prestige-brand retail products with the convenience of a full
service spa and salon, all under one roof. Knowledgeable Associates and
Salon & Spa Professionals are always available to help each customer
find the tools and products they need to look and feel fabulous from
head to toe. Customers can also shop online for all their beauty needs
at beautybrands.com.

Contacts

Sard Verbinnen & Co
Dan Goldstein / Julie Rudnick
310-201-2040
/ 212-687-8080
dgoldstein@sardverb.com
/ jrudnick@sardverb.com