Jeffree uploaded a video explaining the situation. He had previously explained how something "insane + violating has happened to my brand recently," but waited until April Fools' Day had passed because he didn't' want to cause any confusion.
Jeffree explains in the video how his unreleased Magic Star concealer was stolen by "black market makeup dealers," as well as large quantities of other products.
"[On] the morning of March 15 I uploaded the reveal video for the Blue Blood collection," he said. "That night, at around 1am, one of my stock and shipping facility warehouses was broken into and over $2.5 million of products was stolen from me."
Toward the end of the video, Jeffree states that some makeup has been found, however, a large chunk is still missing.
Watch the full video, below.