Warpaint For Men, a company focused on the male beauty market, has acquired the British cosmetics brand Barry M. This move comes as Barry M faced significant market competition and challenges in innovation. The acquisition details reveal Warpaint For Men purchased the Barry M name for £1.4 million.
The deal has placed over 100 employees of Barry M in an uncertain position, as their roles are not guaranteed under the new ownership. Barry M, known for its vibrant colors and accessibility, had a strong presence in major UK retailers, including Superdrug, Boots, Sainsbury's, and Tesco, with stock in approximately 1,300 stores.
This situation highlights the shifting landscape of the beauty industry, where established brands are navigating new market dynamics and the rise of social media-driven marketing by emerging competitors.
Timeline of Events and Key Actors
The acquisition of Barry M by War Paint For Men occurred recently, though specific dates for the deal's finalization are not uniformly stated across all reports. The following provides a chronological overview based on available information:
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December 11, 2011: Barry Mero, the founder of Barry M, is interviewed by The Guardian, discussing the brand's success and identity as "the king of colour."
February 23, 2020: The Guardian reports on War Paint For Men founder Gary Gray, who started his business with the aim of normalizing makeup for men. At this time, major fashion houses and brands like MAC were also introducing or expanding their men's and gender-neutral makeup lines.
2020: True, an investment firm, invests in War Paint For Men, citing its alignment with changing consumer behavior and the mission to eliminate stigma around men's makeup.
Recent Past: Barry M experienced increased competition from rival brands offering similar affordable products, contributing to difficulties in maintaining market share. A lack of perceived innovation was also noted as a factor.
Recent Past: War Paint For Men is rated "Average" with a 2.9/5 score on Trustpilot, based on user reviews.
Recent Past: The acquisition of the Barry M brand by War Paint For Men for £1.4 million is announced. Reports indicate Barry M was facing potential administration prior to the acquisition.
Financial and Market Context
The acquisition price of £1.4 million for the Barry M brand suggests a valuation reflective of its market position and challenges at the time of sale. Barry M had a considerable retail footprint, being available in around 1,300 stores across the UK.
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Stockists: Major retailers like Superdrug, Boots, Sainsbury's, and Tesco carried Barry M products.
Competitive Landscape: Barry M faced growing competition from brands offering products at comparable or lower price points. Reports suggest a failure to adequately innovate, leading to it being perceived as a "small brand in a sea of new and fun names" driven by social media marketing.
Warpaint For Men's Growth: Warpaint For Men, established with a mission to destigmatize makeup for men, has received investment, notably from True in 2020. This investment was based on the company's direct-to-consumer model and its purpose-driven business mission.
Impact on Employment and Operations
The acquisition directly affects the workforce of Barry M.
Job Security: More than 100 staff members employed by Barry M, including those working at its factory, are not guaranteed continued employment under War Paint For Men.
Production: Barry M's factory is located in the UK capital and is responsible for producing its nail paints and makeup lines. The future of these operations under new ownership remains a key point of consideration.
Brand Positioning and Consumer Perception
Barry M built a reputation for its accessible, colorful cosmetic products.
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Barry M's Identity: The brand was particularly favored by makeup enthusiasts and drag queens for its bold color palettes. It has been recognized for its commitment to being 100% vegan and cruelty-free.
Warpaint For Men's Mission: Warpaint For Men aims to address the stigma surrounding male use of makeup. Their business model is noted for its direct-to-consumer (D2C) approach and its alignment with changing consumer behavior. The company's founder, Gary Gray, has personally used makeup for years and observed a market need for products presented in a way that appeals to men who may be new to cosmetics.
Strategic Rationale and Future Outlook
Warpaint For Men's acquisition of Barry M appears to be a strategic move to expand its portfolio and market reach.
Synergies: While distinct in their primary target demographics, both brands operate within the broader beauty market. Warpaint For Men's investment in Barry M could be seen as an effort to leverage an established brand name and distribution network.
Warpaint's Expectations: Sam Bazini, chief executive of Warpaint, has expressed expectations for a return to organic growth and the introduction of new customer rollouts in the upcoming year, to be detailed in their full-year results in April.
Expert Commentary
Industry analysts have offered perspectives on Barry M's challenges and the implications of the acquisition.
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Patrick O’Brien, a retail research director at analytics firm GlobalData, commented that Barry M "failed to innovate" and became a relatively minor player compared to newer brands leveraging social media for traction. This indicates a sentiment that the brand had lost momentum in a dynamic market.
Conclusion and Implications
The acquisition of Barry M by War Paint For Men signifies a notable event in the UK cosmetics industry. Barry M, a brand historically recognized for its vibrant and accessible makeup, has been purchased for £1.4 million by a company focusing on the male beauty sector. This transaction occurred as Barry M faced intense competition and was perceived by analysts as lacking sufficient innovation.
The immediate implication for Barry M is the significant uncertainty surrounding the employment of its over 100 staff members, including those at its manufacturing facility. While War Paint For Men has expressed optimism about future growth and market expansion, the integration of Barry M presents both opportunities and challenges. The move also underscores the evolving nature of the beauty market, where established brands must adapt to digital marketing strategies and changing consumer preferences, while companies like War Paint For Men aim to disrupt traditional market segments by addressing unmet needs and challenging social norms around cosmetic use.
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Sources Used:
BBC News: Barry M bought by make-up for men brand Warpaint
Context: Primary news report detailing the acquisition, financial terms, and initial impact.
Link:
https://www.bbc.com/news/articles/c98q50gd2vmoBirmingham Mail: Major UK make-up brand saves rival from collapse - takes over all products
Context: Reports on the rescue of Barry M from administration and notes the job risks involved.
Link:
https://www.birminghammail.co.uk/whats-on/shopping/major-uk-make-up-brand-33389670The Guardian (2020): 'There's no demographic': founder of men's make-up brand War Paint declares victory
Context: Provides background on War Paint For Men's founding and its market philosophy.
Link:
https://www.theguardian.com/business/2020/feb/23/theres-no-demographic-founder-of-mens-make-up-brand-war-paint-declares-victoryBoots: Barry M - Boots
Context: Information on Barry M's product range and brand positioning as available to consumers through a major retailer.
Link:
https://www.boots.com/barry-mTrustpilot: War Paint For Men is rated "Average" with 2.9 / 5 on Trustpilot
Context: Consumer review data for War Paint For Men, indicating public perception of the brand.
Link:
https://www.trustpilot.com/review/warpaintformen.comTrue Global: Warpaint — True
Context: Details War Paint For Men's investment history and alignment with investor missions.
Link:
https://www.true.global/portfolio/warpaint/The Guardian (2011): Barry M: the king of colour
Context: An earlier interview with the founder, Barry Mero, offering historical context on the brand's establishment and identity.
Link:
https://www.theguardian.com/fashion/2011/dec/11/barry-mero-interview-make-up
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