Last week, biological beauty brand Grown Alchemist announced its move away from the L’Occitane Group to become private
Grown Alchemist has become a privately held company two years after being acquired by L’Occitane Group. Andre Hoffmann, former Vice-Chairman and CEO of the group, has taken on private ownership of the brand in the hope of propelling growth in new markets.
Under the move, Anna Teal, British Beauty Council Advisory Board Member, has been named CEO and minority shareholder.
Teal said: ‘The L’Occitane Group has been an incredible partner and supporter of the business since its acquisition of a majority control in 2022, enabling us to establish a strong foundation for growth, a stellar team, investment in product enhancements and new market entries.
‘That being said, we see this acquisition of Grown Alchemist as an opportunity to accelerate brand growth, as we gain more strategic flexibility and autonomy outside of a listed group. We are appreciative to the Group for their open mindedness and support for this transition in line with growth strategies of both parties involved.’
The brand, which differentiates itself via a synergy between design and product development, puts itself at the forefront of innovation when it comes to skin regeneration and the microbiome.
Grown Alchemist first launched into retailers in 2008, using this as its sole route to consumers. Following this, the brand launched its first standalone store 13 years later. Now, whilst trading in more than 40 countries, the brand is dedicated to accelerating international growth in key markets, such as North America and China.
