L’Oréal Acquires Skinbetter Science | BoF

L’Oréal said it will acquire Skinbetter Science, a Phoenix, Arizona-based skin care startup that distributes its line through dermatologists and cosmetic surgeons.

The brand, which was founded in 2016, reported annual revenue of more than $95 million in the twelve months to July, according to L’Oréal. Skinbetter Science’s current leadership, including co-founder and executive president John Shacknai, will continue to lead the brand.

L’Oréal, which is the world’s largest cosmetics group, has acquired several scientific and dermatological skin care brands, such as CeraVe and Skinceuticals, and has increased its focus on scientific marketing in recent years for its biggest lines, such as L’ Oréal Paris.

The group cited the effectiveness of Skinbetter Science’s proprietary ingredients, which it said are “based on deep knowledge of dermatology and chemistry,” as well as the brand’s growth potential as reasons for the acquisition.

L’Oréal did not disclose financial details of the deal.

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https://www.businessoffashion.com/news/luxury/loreal-acquires-skinbetter-science/ L’Oréal Acquires Skinbetter Science | BoF

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