Lori raised $50 million in venture capital to start a new skincare and cosmetic line called LH Beauty, MTO News has learned.
The company is being set up to compete directly with Kylie Jenner businesses. Kylie reportedly sold her cosmetic and skin care company last year, for $1.6 billion.
Lori plans on making makeup and skincare that appeals to all women, but particularly African American ladies. And she has the money behind her to make sure that she has the best possible products.
MTO News spoke with multiple people close to Lori who tell us that the roll out of LH Beauty is going to be huge – and that the entire makeup industry is excited (and worried) about Lori’s entrance into the field.
One of Lori’s confidants told MTO News. Lori will be selling her products on Instagram, and also doing Youtube makeup videos with her celebrity friends. It’s really going to be something different – and amazing.”