L’Occitane buys Australian skincare brand Grown Alchemist
In this article (5)
Hong Kong-listed beauty giant L’Occitane Group has acquired a majority stake in Australian-based clean skincare brand Grown Alchemist for an undisclosed sum.
Grown Alchemist was founded in 2008 by Melbourne siblings, Jeremy and Keston Muijis, with a focus on futuristic anti-aging technology and unique botanical skincare formulas for optimal skin health. The brand opened a flagship store in Melbourne in 2020, “gearing for the next phase of [our] journey with a full-scale omnichannel presence to further augment global sales”.
“With a unique and inspiring brand story and international fan base, Grown Alchemist is poised for international scalability and rapid growth,” said Andre Hoffmann, vice chairman & CEO of L’Occitane Group.
The acquisition of Grown Alchemist is part of L’Occitane’s plan to further broaden its health-conscious beauty portfolio, attracting influential millennial and Gen Z customers.
The deal follows L’Occitane’s acquisition of Sol de Janeiro’s 83-per-cent stake last November, which is known for the Brazilian Bum Bum Cream brand.
Questions & Answers
Q.What is L'Occitane Group's strategic aim with this acquisition?
What is L'Occitane Group's strategic aim with this acquisition?
L'Occitane intends to broaden its health-conscious beauty portfolio. This move also targets attracting influential millennial and Gen Z customers to their brands, aligning with current market trends in the beauty sector.
Q.What is known about Grown Alchemist's brand focus?
What is known about Grown Alchemist's brand focus?
Grown Alchemist focuses on futuristic anti-aging technology and unique botanical skincare formulas. The brand, founded in 2008, aims to promote optimal skin health for its customers.
Q.Has L'Occitane made similar acquisitions recently?
Has L'Occitane made similar acquisitions recently?
Yes, this acquisition follows L'Occitane's purchase of an 83-per-cent stake in Sol de Janeiro last November. Sol de Janeiro is known for its Brazilian Bum Bum Cream product.
Q.When and where did Grown Alchemist open its first physical store?
When and where did Grown Alchemist open its first physical store?
Grown Alchemist opened its flagship store in Melbourne in 2020. This was part of their strategy to create a full-scale omnichannel presence and further augment global sales.
Reader pulse
What's your take on L'Occitane's latest acquisition?
21,435 votes so far