Companies offering beauty, skincare, and cosmetic products and treatments have faced economic challenges in the years since the Covid-19 pandemic.
Many of these companies have dealt with rising labor and product costs exacerbated by inflation, increased interest rates, cautious consumers who are watching their budgets in uncertain economic times, and fierce competition.
The struggling companies include household names like Revlon, which filed for Chapter 11 bankruptcy in June 2022, and Avon, which filed for Chapter 11 bankruptcy in August 2024.
Related: Award-winning cosmetics brand files for Chapter 11 bankruptcy
More recently, beauty technology company Cutera filed for a prepackaged Chapter 11 bankruptcy on March 5 to reduce its debt by $400 million, and award-winning cosmetics company SBLA Beauty filed for Chapter 11 protection on March 11 to reorganize its business and restructure its debt.
Apostrophe skincare is going out of business
And now, telehealth company Hims & Hers Health has shut down its acne treatment dermatology business, Apostrophe, after buying the San Francisco-based company four years ago for about $190 million.
Hims & Hers is transitioning away from the Apostrophe brand and encouraging patients to try its brand’s treatment options, the company revealed on its website.
“Apostrophe is being discontinued and all current subscriptions will be canceled as of March 7th, 2025,” the company wrote on its website. “If you are entitled to a refund, we will process these over the next few weeks.
“For the next 30 days, you will still be able to access your provider team and receive support through your patient account. After this 30-day period, the Apostrophe platform will be disabled.
“If you would like to seek alternative treatment, we recommend going through Hims or Hers. We are also happy to assist in transferring your prescription to a pharmacy of your choice, if possible.
“We apologize for any inconvenience this may cause and are here to assist you during this transition,” the message concluded.
Hims & Hers (HIMS)  acquired Apostrophe in July 2021 “to provide consumers with some of the most advanced and personalized dermatology treatments, faster and at scale,” according to a statement at the time.
Futurewise skincare brand is closing down its business. (Photo by Michael Bezjian/WireImage for Sonya Dakar – Mindys Cosmetics)
Michael Bezjian/Getty Images
Futurewise shuts down skincare business
Finally, another skincare brand is calling it quits as Futurewise Inc. revealed that it will discontinue orders on its website beginning March 24.
Related: Another popular beauty brand files Chapter 11 bankruptcy
“Goodbye for now,” the skincare brand wrote on its website. “After a lot of thought, we have made the hard decision to sunset Futurewise.
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“We are deeply grateful for your trust and support over the years — it’s been an honor to be part of your skincare routine.
“Starting today, all products are 60% off, and the last day to place orders will be on March 24th. With love, Futurewise,” the company’s message ended.
Futurewise offered its skincare products Slug Boost, Slug Cream, Slug Balm, and Face Melt, which featured its “slugging” practice of skincare.
“Slugging is the long-standing dermatologist-beloved practice of applying an occlusive layer over the skin to prevent water loss. Less water loss means more hydration, and more hydration means plump, juicy, healthy skin,” Futurewise wrote on its website.
Slugging appears to have arrived in the early 2010’s with one of the first documented mentions of the term on a Reddit thread, the website said. The practice has since developed a cult-like following, Futurewise claims.
Futurewise products are also available at CVS stores, according to the skincare company’s website.
Neither Hims & Hers’ Apostrophe nor Futurewise indicated any plans to file for bankruptcy protection.
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