Modern Beauty announces acquisition of Venus Beauty
CALGARY, July 4, 2022 - Modern Beauty is thrilled to announce the acquisition of Venus Beauty Supplies. Based in Calgary, Modern Beauty currently has 34 store locations across Western Canada, and a sales team of 70+ Business Advisors who service clients all across Canada. With the acquisition of Venus, Modern Beauty will now have 39 stores and 90+ Business Advisors to actively service Western Canada and Ontario.
“Over the years, we have developed a strong relationship with the Riverso family at Venus Beauty. We look forward to seeing what we can accomplish together. Our priority is and always will be putting our clients first so they can focus on what they love and do best!” – Mike Jomaa
Venus Beauty will continue to operate as usual with the support of Vince Riverso, Greg Riverso and Mara Federici as well as the same management, Business Advisors and staff. The team at Modern Beauty will work closely with Venus Beauty and their team to support our clients.
With 80+ years of combined knowledge and industry experience, both the Jomaa and Riverso families are extremely excited about the future and the opportunity for growth that this acquisition will bring to both the Modern Beauty name and the Ontario market. We look forward to fortifying the strong existing relationships with all our valued customers and manufacturer partners as well as fostering new ones. We will continue to strive to be the leader in the beauty industry and look forward to your loyal and constant support.
Modern Beauty named one of Canada’s Best Managed Companies 2022
CALGARY, May 10, 2022 - Modern Beauty was recognized for overall business performance and sustained growth with the prestigious Canada’s Best Managed Companies designation. The 2022 Best Managed program award winners are amongst the best-in-class of Canadian owned and managed companies demonstrating leadership in the areas of strategy, capabilities and innovation, culture and commitment, and financials to achieve sustainable growth.
Modern is the largest privately-owned company in the Canadian beauty industry. Our family-owned business of 36 years has built a team with an integral network of 79% women, while also committing to the principles of inclusion and diversity.
At Modern, we pride ourselves on being a leader in the industry by offering the most recognized and innovative product lines, while focusing on the importance of education to inspire our clients and grow their businesses. We are constantly finding new ways to incorporate the latest technology into our work environment with a focus on providing a seamless experience for our loyal clients. Our business strategy at Modern Beauty is to embrace the ever-changing market and look for ways to stay ahead. By doing so, we are able to adapt to these changes, which is fundamental to our business’s success.
Modern is committed to giving back to our community. In 2013, the “Beauty of Giving'' was founded in honour of Byron Thompson, a beloved member of the Modern Family who passed away from ALS. Through this program, we partner with one of our brands to feature a product where 100% of the proceeds go to a chosen charity. To date, we have raised over $500,000 for many Canadian charities, including ALS Canada, Breakfast Club of Canada, and the Canadian Mental Health Association.
“The 2022 Best Managed winners exemplify innovation, adaptability, and resilience in the face of uncertainty,” said Derrick Dempster, Partner, Deloitte Private and Co-Leader, Canada’s Best Managed Companies Program. “Over the past year, these forward‑forging companies have pivoted to successfully respond to challenges and capitalize on new opportunities, leveraging industry‑leading competencies to maximize their investments and drive sustainable growth.”
Applicants are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. 2022 Best Managed companies share commonalities that include putting their people and culture at the forefront, focusing on their ESG strategies and doubling down on accelerated digitization.
This acknowledgement comes at a very important time, as it has been a challenging year for all individuals and businesses. COVID-19 has forced us to think differently, while prioritizing the safety of our employees, clients and communities. We have made the necessary changes to avoid interruption in the services we provide to support our clients, some of whom are struggling to keep their doors open.
“An accolade such as Canada’s Best Managed Companies reminds us that we are doing what it takes to make a contribution to the community and the industry. We are humbled and dedicate this award to all our employees who have demonstrated tireless efforts to represent Modern Beauty in the best light possible,” said Mike Jomaa, CEO Modern Beauty
“This year’s Best Managed winners displayed courage, resourcefulness, and creativity as they explored new avenues for advancement,” said Lorrie King, Partner, Deloitte and Co- Leader, Canada’s Best Managed program. “We’re extremely proud to recognize their impressive achievements in such a rapidly changing business world. Their successes demonstrate the importance of strong leadership and forethought in driving long-term growth.”
Now in its 29th year, Canada’s Best Managed Companies remains one of the country’s leading business awards programs recognizing Canadian-owned and managed companies for innovative, world‑class business practices. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of their management abilities and practices.
