The L’Occitane Group has introduced the bulk acquisition of Australian clear skincare model, Grown Alchemist, in a bid to increase on its holistic magnificence class.
The Melbourne label, which was based in 2008, focuses on anti-aging know-how and botanical skincare formulation, which L’Occitane mentioned aligns with its philosophy.
In a launch, the group mentioned the rising magnificence label, with its dedication to sustainable sourcing and pure biodiversity, will increase on its portfolio to incorporate new and established magnificence manufacturers. The L’Occitane Group mentioned this growth technique will speed up its progress path to “turning into a really international, multibrand group”.
It moreover believes that the acquisition will allow it to broaden its worldwide market attain, connecting it with the Millennial and Gen Z buyer group.
With the acquisition, the group plans to help Grown Alchemist by the sharing of experience and aiding in its subsequent part of scaling its international omnichannel presence.
“We’re thrilled to help and nurture this ground-breaking, pure cosmeceutical model, which encapsulates the entrepreneurial spirit of our group,” mentioned André Hoffman, vice-chairman and CEO of the posh magnificence group. “With a singular and galvanizing model story and worldwide fan base, Grown Alchemist is poised for worldwide scalability and fast progress.”
