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MILLIE BOBBY BROWN ACQUIRES MAJORITY STAKE IN FLORENCE BY MILLS

December 23, 2020
December 23, 2020
Florence by Mills

Millie Bobby Brown has purchased a majority stake in her Gen Z beauty brand Florence by Mills from beauty incubator Beach House Group that helped develop and launch the line last year.

WHO: Millie Bobby Brown launched Florence by Mills, the Gen Z cruelty-free and vegan beauty brand named after her great-grandmother, in the summer of 2019. While DTC focused, the brand is currently available at retailers Ulta Beauty, Boots, Douglas, ASOS, Nocibé, Beauty Bay, and Look Fantastic.

Beach House Group is a brand incubator delivering thoughtful products and bold strategies that intuit the needs of today’s consumer. With expertise spanning brand and product development, to design and procurement services, the company, co-founded by Shaun Neff and PJ Brice in 2016, searches for white space in the marketplace and develops brands that specifically fill that gap. Beach House Group is the force behind 2019’s breakthrough emerging brands: BÉIS, Cleen, Kendall Jenner’s Moon, and Pattern by Tracee Ellis Ross.

IN THEIR OWN WORDS: “I feel really fortunate to have been able to realize my dream of creating a beauty and skincare brand for my generation that represents so many things that are important to me,” said the 16-year-old actress in a statement. “I have learned so much this past year, and I’m forever grateful for the support I have been provided in order to explore, develop and establish Florence by Mills as a desirable brand. I look forward to this next phase of evolving the Florence by Mills brand globally in new and unique ways.”

“We loved being partners with Millie in the first phase of her vision for Florence by Mills, which focused on beauty,” said Beach House Group’s Chief Executive Officer PJ Brice. “We are so proud of what Florence has achieved in its first 18 months. There is no doubt that the brand will continue to prosper and expand, especially with Millie’s vision to build Florence into a brand beyond beauty.”

Paula Pontes, Florence by Mills’ CEO said, “It has been a privilege to lead Florence by Mills during the last nine months alongside Beach House Group and their team of beauty visionaries, who laid out such a strong foundation for the brand. I am equally excited for this transition to join Millie and her family in this next, exciting building phase in which we will strive to elevate and cement our beauty footprint while also expanding into other categories that our Gen Z consumers are asking for us to deliver.”

DETAILS:

  • Millie Bobby Brown has purchased a majority stake in Florence by Mills from Beach House Group.
  • According to the brand, Beach House Group is now a minority shareholder.
  • Brown plans to grow the brand with Paula Pontes, Florence by Mills’ CEO as of March 2020.
  • Beach House Group raised Series A funding from Monogram Capital Partners in August 2019. According to WWD, the company has surpassed its $100 million sales goal and, since the pandemic, their direct-to-consumer business has grown more than 300%.
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