Global beauty company, Mary Kay, has made the decision to exit both the Australian and New Zealand markets effective immediately, shocking the beauty industry.
In a statement posted on the brand's website, the company said operations in the region were unsustainable, and that the brand would be focusing on its core global markets.
"It is a decision Mary Kay has not taken lightly, however a combination of market conditions across Australia and New Zealand are such that the business does not see a sustainable future in either market," the statement reads. "Mary Kay will be focusing on its core growth markets across the globe."
The brand also said staff were informed of the closure in advance of the wider market.
"Mary Kay is grateful for the dedication and support of its employees and independent sales force members through the years."
The makeup company, founded in Dallas in 1963 by Mary Kay Ash, first came to Australia in 1971, and was the first international subsidiary of Mary Kay Inc.
"Mary Kay also thanks its customers who have shown love and support towards its products, since it launched in Australia nearly fifty years ago and in New Zealand thirty years ago."
The brand will be accepting returned products from its sales force until April 6, 2020.
