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.