L’Oreal To Acquire Vegan Skincare Brand Youth to the People
L’Oréal will acquire skincare brand Youth to the People.
Terms of the deal weren’t shared, but L’Oréal expects the brand to record more than $50 million in sales this year.
Founded in Los Angeles in 2015, Youth to the People uses vegan ingredients in product development and has been backed by Sandbridge Capital, Strand Equity and Carisa Janes. It’s currently sold direct-to-consumer e-commerce and has limited distribution in the U.S., Canada, Australia and a few European countries.
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Cyril Chapuy, president of L’Oréal Luxe, pointed to Youth to the People’s strong reputation and product quality as leading factors for its appeal with all genders.
“Its skincare expertise based on healthy, vegan, high-efficacy formulas make it a very strategic addition to L’Oréal Luxe,” noted Chapuy.
The brand was founded by Greg Gonzalez and Joe Cloyes, two cousins inspired by their grandmother’s efforts to start a professional skincare line 40 years ago.
L’Oréal is the No. 13 publicly owned consumer goods company.
