Rare Beauty Brands completed its second transaction, acquiring Dr. Dana Beauty from Nu Skin Enterprises Inc.
WHO: Dr. Dana Beauty, known for its Nail Renewal System, was developed by world-renowned dermatologist and nail expert Dr. Dana Stern. The formulas are scientifically proven and free of harmful chemicals.
Established in 2014 and headquartered in Boston, MA, Rare Beauty Brands is a global brand platform that incubates, acquires, and accelerates purpose-driven beauty brands with a current portfolio that consists of Patchology and Plant Apothecary.
WHY: The acquisition will increase Rare Beauty Brands' leadership in the beauty industry and expand the brand into a full Nail Care Category Line in 2023.
IN THEIR OWN WORDS: "When I think about a Rare Beauty brand, I think of three pillars: Is it pushing the limits of efficacy and conscious beauty, is it based on an unmet need, and is it really strongly differentiated," said Chris Hobson, President and Chief Executive Officer of Rare Beauty Brands. "Nail health has historically been an afterthought for color brands. But here, it's bringing the sophistication of skin care into nail care."
“From the beginning, my mission has been to share my unique nail expertise, knowledge, and passion beyond the confines of my Fifth Avenue and Hamptons dermatology practices," said Dr. Stern. "Rare Beauty Brands affords me this opportunity as they have built an accomplished organizational foundation backed by strong leadership and driven by an entrepreneurial spirit to succeed. In this environment, we'll be able to significantly accelerate our growth and customer reach.”
- Headquartered in Norwood, Massachusetts, Rare Beauty Brands acquired Dr. Dana Beauty from Nu Skin Enterprises Inc. The financial terms of the deal were not disclosed.
- Stern will also be joining Rare Beauty Brands' board of directors.
- Rare Beauty Brands acquired Plant Apothecary in 2019.
2 Article(s) Remaining