Beautycounter buys the Nude natural skin care line from LVMH
Vanessa Friedman of The New York Time wrote about the deal yesterday as well, noting that Nude’s cofounder Ali Hewson will join the board of Beautycounter and that her husband Bono “will become an investor in Counter Brands, the parent company of Beautycounter.”
Gregg Renfrew, CEO of the California-based skin care and cosmetics company described the synergy between the two natural beauty brands by telling Friedman that at an early meeting to explore a deal, “We just realized we had a shared philosophy, and this was an opportunity to take a leadership position in the sector.”
Social entrepreneurship
Beautycounter, run on the direct-sales business model, is a well-regarded brand in the naturals market. And, Renfrew and her company are frequently making headlines, advocating for personal care and cosmetic product safety as well as when actively campaigning for regulatory changes in the business.
In the meantime, Beautycounter aims to set a new industry standard by example. “The brand is known for its ‘Never List,’ more than 1,500 ingredients it has sworn not to include in its products, as well as its political lobbying for greater oversight of beauty products,” as Friedman reports.
Better together
While there is certainly room in the global market place just now for a full-scale clean and natural beauty player, that’s not what Beautycounter is necessarily aiming to be. “We weren’t actively shopping the market,” Renfrew says. “It was just about a shared commitment,” she tells The New York Times.
The companies have product and business philosophies that align easily and are joining forces to bring natural beauty to more consumers and to benefit from one another’s expertise and infrastructure.
