The L’Occitane Group has announced the majority acquisition of Australian clean skincare brand, Grown Alchemist, in a bid to expand on its holistic beauty category.
The Melbourne label, which was founded in 2008, focuses on anti-aging technology and botanical skincare formulas, which L’Occitane said aligns with its philosophy.
In a release, the group said the emerging beauty label, with its dedication to sustainable sourcing and natural biodiversity, will expand on its portfolio to include new and established beauty brands. The L’Occitane Group said this expansion strategy will accelerate its growth path to “becoming a truly global, multibrand group”.
It furthermore believes that the acquisition will enable it to broaden its international market reach, connecting it with the Millennial and Gen Z customer group.
With the acquisition, the group plans to support Grown Alchemist through the sharing of expertise and aiding in its next phase of scaling its global omnichannel presence.
“We are thrilled to support and nurture this ground-breaking, natural cosmeceutical brand, which encapsulates the entrepreneurial spirit of our group,” said André Hoffman, vice-chairman and CEO of the luxury beauty group. “With a unique and inspiring brand story and international fan base, Grown Alchemist is poised for international scalability and rapid growth.”