According to Vogue, French magnificence model L’Occitane is buying Australian skin-care line Grown Alchemist in an effort to develop its portfolio and attain youthful shoppers.
“In acquiring a majority control in Grown Alchemist, with its appeal to more health-conscious, influential millennial and Gen Z customers, the group aims to further broaden its international consumer profile and market reach,” says L’Occitane in a assertion.
And, we predict it can. According to Statista, the clean beauty market is estimated to achieve $22 billion by 2024, and Grown Alchemist suits proper into that class. Its merchandise, which the model labels as “Bio-compatible Beauty,” are formulated by means of a holistic scientific method to remodel the pores and skin from the outside-in. Some of the bio-active elements used in its formulation are polylactic acid from corn starch, pink grapefruit and vitamin C, all of which go away pores and skin wanting refreshed and revitalized.
Once Grown Alchemist is acquired, Vogue experiences that it’s going to develop into a non-wholly owned subsidiary of L’Occitane, with co-founders Jeremy and Keston Muijs remaining in their roles and retaining a share in the corporate.
In a current assertion,L’Occitane CEO and vice-chairman André Hoffmann says, “With a unique and inspiring brand story and international fan base, Grown Alchemist is poised for international scalability and rapid growth.”
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