Deals



L’Oréal Acquires Skincare Brand


Posted: 13th December 2021 10:35

L’Oréal has reached an agreement to acquire Youth to the People, an American skincare company based in California.

Founded in 2015 by two cousins, Greg Gonzalez and Joe Cloyes, the brand is said to have been inspired by their grandmother, Eva, who started a professional skincare line 40 years ago, utilizing plant extracts and other active ingredients. The brand’s recent strong growth has been supported by its investors, Sandbridge Capital, Strand Equity and Carisa Janes.

Youth to the People now markets skincare products known for formulas that combine premium vegan blends of superfood extracts.

Available in the US, Canada, Australia, and in select European countries, the range is marketed through a mix of DTC e-commerce and selective distribution.

The brand is expected to record sales of over $50m this year.

“Because of its solid reputation and remarkable product quality, Youth to the People is a favourite among all genders,” commented Cyril Chapuy, President of L’Oréal Luxe.

“Its skincare expertise based on healthy, vegan, high-efficacy formulas make it a very strategic addition to L’Oréal Luxe. The brand’s core values and distinctive spirit reflected in its initiatives to amplify diverse voices, build a fairer world and enhance consciousness of the planet will be further celebrated at L’Oréal not only because they are precious to us, but because they are very true to our own values.”

In a joint statement, Cloyes and Gonzalez said: “Joining the L’Oréal family gives us the opportunity to realize all the dreams of Youth to the People.

“Our brand’s mission is to make high-performance skincare using vegan ingredients with practices that are good to the planet and good to the people. We’re beyond excited about this partnership and the opportunity to amplify our shared values of investing in a just and sustainable future for all.”

The financial terms of the deal were not disclosed.


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