New brand platform Rare Beauty Brands makes its first acquisition with indie clean beauty brand Plant Apothecary.
WHO: Based in Williamsburg, Brooklyn, the husband-and-wife team of Bjarke Ballisager and Holly McWhorter founded Plant Apothecary in 2012 with the goal to create products infused with social and environmental responsibility and healthy ingredients by way of trendy and recyclable packaging. The unisex body-care and skincare brand’s assortment consists of approximately 22 products priced from $12 to $56 with distribution in Aillea, Anthropologie, Macy’s, Selfridges, Goop, Content Beauty & Wellbeing, and The Detox Market.
Headquartered in Norwood, Massachusetts, Rare Beauty Brands is a brand platform from the leadership of Patchology built to foster emerging brands. Rare Beauty focuses on brands bootstrapped prior to its involvement that are generating $500,000 to $10 million in annual revenues.
IN THEIR OWN WORDS: “Founders of indie brands don’t often bring years of experience in finance, sales, operations and marketing to the table, and there’s no reason why you shouldn’t be able to apply that experience to more than one brand. So, the concept of Rare Beauty just made sense to me,” Holly McWhorter told Beauty Independent. “For us, it was a no-brainer because that was what we were missing. We have never been finance, sales, operations or marketing people. At a certain point, we realized that the way for this brand to grow was to find people with that experience and enough money to give the brand what it really needs to put it out there. I think that a lot of brands could feel the same way.”
- Rare Beauty Brands acquires Plant Apothecary.
- Terms of the deal were not released.
- Rare Beauty estimates it can triple Plant Apothecary’s revenues during its first year and double revenues in subsequent years.
- Plant Apothecary’s sales total for last year wasn’t disclosed.
- McWhorter will remain involved in the brand at the creative helm but will be carving out time for writing and design work. Ballisager will step away from the business to focus on architecture.
Photo: via Plant Apothecary