L’Oréal to Acquire Skin Care Brand Youth to the People – Beauty Packaging Magazine

L’Oréal has signed an agreement to acquire California-based skin care brand Youth to the People.
Youth to the People was founded in Los Angeles in 2015 by two cousins, Greg Gonzalez and Joe Cloyes. The brand is inspired by their grandmother, Eva, who started a professional skin care line 40 years ago, utilizing plant extracts and innovative active ingredients. The brand’s growth has been supported by its investors, Sandbridge Capital, Strand Equity and Carisa Janes.
Youth to the People develops and markets high-performance skin care products known for formulas that combine premium vegan blends of superfood extracts and science.
Available in the U.S., Canada, Australia, and in select European countries, the brand is marketed through an omnichannel distribution – mix of D2C e-commerce and selective distribution.
Earlier this year, Youth to the People was named as one of the top 50 emerging startups in the U.S. by LinkedIn.
According to L’Oréal, the brand is expected to record over $50 Million of sales in 2021.

Comments from Leadership

“We are very pleased to welcome Youth to the People brand, its founders and fantastic teams. Because of its solid reputation and remarkable product quality, Youth to the People is a favorite among all genders. Its skin care expertise based on healthy, vegan, high-efficacy formulas make it a very strategic addition to L’Oréal Luxe,” commented Cyril Chapuy, president of L’Oréal Luxe.
Stéphane Rinderknech, president North America & chief executive officer L’Oréal USA, added, “We have been inspired by the passion and vision of the brand’s two founders, Joe Cloyes and Greg Gonzalez, in bringing the best of the health-conscious, California lifestyle to high performance beauty. We believe in the potential of this special brand, and we look forward to working with the Youth to the People team to help them realize this potential.”
Joe Cloyes, founder & CEO, and Greg Gonzalez, founder & CBO, of Youth to the People, said, “Our brand’s mission is to make high-performance skin care using vegan ingredients with practices that are good to the planet and good to the people. We’re beyond excited about this partnership and the opportunity to amplify our shared values of investing in a just and sustainable future for all.”
The closing is subject to the standard regulatory approvals and other customary conditions.

Source: https://www.beautypackaging.com/contents/view_breaking-news/2021-12-09/loreal-to-acquire-skin-care-brand-youth-to-the-people/

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