L’Occitane Sells Skincare Brand Grown Alchemist

Grown Alchemist, the Australian skincare model, has just lately undergone a change in possession. The bulk stake of the model was offered by L’Occitane Group to André Hoffman, the group’s former vice chairman and CEO, who now holds the bulk possession. Anna Teal, the CEO of Grown Alchemist, has transitioned to develop into a minority shareholder within the firm. The transaction was valued at 28 million euros.

With this transformation in possession, Grown Alchemist is ready to concentrate on increasing its enterprise by large-scale partnerships and activations in way of life, music, and retail sectors. The model goals to boost the patron expertise and speed up its worldwide progress in key markets similar to North America and China. Following the switch of possession, Grown Alchemist will now be headquartered in London.

In January, L’Occitane Group appointed Laurent Marteau as its new CEO, marking a major change in management throughout the group.

Beforehand, L’Occitane Group had acquired a majority share of Grown Alchemist in March 2022 from boutique funding band Lempriere Wells. Business sources estimated the acquisition worth to be over 50 million Australian {dollars}, equal to $32.5 million at the moment.

Grown Alchemist, based in 2008 by brothers Keston and Jeremy Muijs and based mostly in Melbourne, gives a spread of one hundred pc pure, vegan, and cruelty-free skincare merchandise, in addition to IV infusion remedy, hair care, and physique care. The model’s merchandise are offered in additional than 40 international locations, together with well-liked retailers similar to Sephora, Credo Magnificence, and luxurious resorts and spas.

The model’s method to skincare focuses on pure substances, gender-neutral packaging, and a three-phase skincare system of “cleanse, detox, activate.” Along with skincare, Grown Alchemist has expanded its product vary to incorporate hair and physique care in addition to ingestible dietary supplements.

Grown Alchemist has established beauty and dietary analysis services in varied places similar to London, Paris, Switzerland, Spain, and Australia. The model holds accreditations from organizations just like the ACO (Australian Licensed Natural) and SCA (SAFE Cosmetics Australia).

A few of the bestselling merchandise from Grown Alchemist embody the Tinted Age-Restore Lip Therapy, Hydra-Restore Cream Cleanser, Detox Serum Antioxidant+3 Complicated, and Age-Restore Eye Cream.

Other than Grown Alchemist, L’Occitane Group’s portfolio contains well-known manufacturers like L’Occitane en Provence, L’Occitane au Brésil, Melvita from France, Erborian from South Korea, LimeLife by Alcone from the U.S., and Dr. Franjes Firenze from Italy.