Amyris is exiting the consumer brand business, shutting down three brands, including Costa Brazil, before filing for Chapter 11 bankruptcy.

WHO: Costa Brazil is a clean luxury concept created by founder Francisco Costa launched in 2018 to capture the rich, natural essence of his homeland of Brazil. All products are made from pure, potent, enriching ingredients, sustainably sourced from the Amazon, and activated using the latest laboratory technologies. At the core of Costa Brazil’s skincare rituals is an exclusive Jungle Complex consisting of mineral-rich Kaya, antioxidant-packed Cacay, and sacred, soothing Breu resin.

WHY: Amyris plans to return to its roots of developing bio-based materials after shedding its consumer portfolio and restructuring the company's cost structure, capital structure, and liquidity position after exiting bankruptcy proceedings.

DETAILS:

• Amyris is exiting the consumer brand business and shut down Costa Brazil, before filing for Chapter 11 bankruptcy.
• Amyris acquired Costa Brazil in 2021. 
• Upon acquisition, Francisco Costa became the Chief Creative Officer of Amyris. 
• Costa Brazil raised seed funding from Waldencast, Valor Capital Group, Elizabeth, and Street Ventures in 2019.