BondiBoost is the newest hair care enterprise to be acquired, WWD has confirmed.
The Australia-based hair care model has been acquired by Gauge Capital, the Dallas-based personal fairness agency, the model’s international president Brian Orr informed WWD.
Orr didn’t disclose the scale of the deal, nor did he touch upon estimates from {industry} sources that the model reached $80 million in gross sales final 12 months.
“The model might be headquartered in Australia, and product improvement will proceed to come back out of Australia. My function is to assist the Australia group and put a assist system in place world wide to allow the worldwide worldwide enlargement into all markets, and all geographies,” Orr mentioned, including he joined the model earlier this 12 months.
BondiBoost is offered on its web site and at Ulta Beauty and likewise participates within the latter’s partnership with Target. Given the model’s success within the U.S. and U.Okay., Orr shouldn’t be excluding any worldwide markets because it appears to be like to outward for alternatives.
“We started in Australia, the place we’ve an incredible enterprise, however I nonetheless assume there’s room to develop in North America,” he mentioned. “The group has already outlined the roadmap. They’ve constructed buyer engagement and advocacy in such a brief period of time. If you go browsing, there are greater than 20,000 clients giving BondiBoost a five-star score on our merchandise.”
He additionally famous the model’s Instagram account, which boasts 687,000 followers, and the model’s Facebook group, BondiBoost Babes, which has greater than 80,000 members.
“Our digital neighborhood has plenty of enjoyable along with clients sharing success and asking one another which merchandise to make use of and the way to use them,” he mentioned. “That’s organically occurring.”
With that in thoughts, the model is trying to keep on with its core hair enterprise earlier than trying to different classes for enlargement.
“We are all about creating options to unravel points that individuals are having with their hair and scalp and that’s the core of the model,” he mentioned. “There are loads of classes we are able to check as nicely, however I really need the model to stay to its core, as a result of that’s what we do greatest.”
The deal comes as status hair care exhibits no indicators of abatement. The class is predicted to achieve the identical quantity as make-up by 2024.
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https://wwd.com/beauty-industry-news/beauty-features/gauge-capital-bondiboost-1235151016/
