Morphe Brand Once Valued at $2 Billion Closing All US Stores (2)

Morphe makeup, which rode the power of social media stars to rapid growth and a $2 billion valuation, said it’s planning to close all its US stores.

On Thursday, the company listed about twenty locations on its website. Forma Brands, Morphe’s parent, said in a statement that it’s shutting down its physical stores to focus on e-commerce and wholesale.

Partnerships with powerhouse internet celebs such as Jeffree Star and James Charles helped revenue top $400 million in 2019, according to a company presentation from December 2021 reviewed by Bloomberg. But Morphe severed ties with them after Star was accused of ...