L’Occitane buys Australian skincare brand Grown Alchemist

Hong Kong-listed magnificence big L’Occitane Group has acquired a majority stake in Australian-based clear skincare brand Grown Alchemist for an undisclosed sum. 

Grown Alchemist was based in 2008 by Melbourne siblings, Jeremy and Keston Muijis, with a concentrate on futuristic anti-ageing know-how and distinctive botanical skincare formulation for optimum pores and skin well being. The brand opened a flagship retailer in Melbourne in 2020, “gearing for the subsequent part of [our] journey with a full-scale omnichannel presence to additional increase international gross sales”.

“With a singular and galvanizing brand story and worldwide fan base, Grown Alchemist is poised for worldwide scalability and speedy progress,” mentioned Andre Hoffmann, vice chairman & CEO of L’Occitane Group. 

The acquisition of Grown Alchemist is a part of L’Occitane’s plan to additional broaden its health-conscious magnificence portfolio, attracting influential millennial and Gen Z prospects.

The deal follows L’Occitane’s acquisition of Sol de Janeiro’s 83-per-cent stake final November, which is understood for the Brazilian Bum Bum Cream brand. 

https://insideretail.com.au/enterprise/loccitane-buys-australian-skincare-brand-grown-alchemist-202203

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