L’Occitane Acquires Australian Skin Care Brand Grown Alchemist

Beauty giant L’Occitane has acquired a majority stake in clean skincare brand Grown Alchemist for an undisclosed amount.

Grown Alchemist was originally founded in 2008 by Melbourne-based siblings Jeremy and Keston Muijis, who created innovative anti-aging technology and unique botanical skincare formulas for optimal skin health.

“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, in a statement.

The acquisition is part of an effort to expand L’Occitane’s health-conscious beauty portfolio while also targeting and attracting a younger audience, mainly millennial and Gen Z customers. Just last November, L’Occitane’s acquired a roughly 83% stake in body care brand, Sol de Janeiro, which is known for its Brazilian Bum Bum cream. The product has become popular amongst both millennials to Gen Z consumers.

“We are delighted to be further expanding our brand portfolio and accelerating our transformation into a multi-brand and geographically balanced group. With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image,” said André Hoffmann, vice chairman and chief executive officer of L’Occitane, upon the completion of the acquisition.

Originally published at https://retailbum.com on March 28, 2022.