Amyris Buys Another Beauty Brand

Amyris, Inc. has acquired two companies in as many days.

Today, the firm announced it is acquiring controlling interest in EcoFabulous Cosmetics, a beauty brand focused on Gen Z consumers. On April, 14, the company agreed to acquire Beauty Labs International Ltd., an AI technology company.

Last month, Amryis acquired Costa Brazil, a luxury clean beauty brand, and announced plans to sell off its flavor and fragrance business.
  
Founded by Marissa Shipman, EcoFabulous focused on delivering high performance, makeup artist-quality beauty products that are clean, sustainable and priced for Gen Z consumers——the fastest growing beauty segment in China and one of the fastest growing segments in the US.  
 
“I am passionate about building beauty products that deliver real performance for the beauty consumer and make no compromise with respect to clean ingredients and packaging because there is no planet B,” said Shipman, who is also the founder of Balm cosmetics. “EcoFabulous is my latest brand innovation and I am looking forward to partnering with the Amyris team to accelerate our growth. I see an exciting future leveraging the opportunities that Amyris's depth in sustainable ingredients brings to our brand.”
 
Amyris is acquiring a 70% controlling interest in EcoFabulous. Shipman will join Amyris to lead brand innovation and be the CEO for the EcoFabulous brand.
 
According to John Melo, president and CEO of Amyris, Shipman’s “track record of beauty brand innovation speaks for itself and she has done an incredible job building a well-positioned cosmetics brand in EcoFabulous.” 
 
According to Melo, Amyris has invested approximately $12 million in acquiring and developing new brands this year, mostly funded with Amyris equity. The new brands are estimated to represent 20% of consumer revenue this year.
 
“Our direct-to-consumer sales continues to experience excellent growth and we are now experiencing better than pre-COVID sales growth with our retail store partners,” Melo noted.

The Amyris' family of consumer brands also includes Biossance, Pipette, Rose Inc., JVN and Terasana.
 
An AI Acquisition

Beauty Labs International Ltd., which has bases in both the UK and US, is an employee-owned technology company that delivers connected consumer experiences to the beauty and wellness community.

“Our Beauty Labs team is excited to become part of Amyris and to help pioneer the next generation of digital consumer experiences,” said Mark Gerhard, founder of Beauty Labs. “A connected consumer is the future of the beauty and wellness industry, and we are proud to be joining Amyris to bring a new level of sophistication to the consumer experience.”

“We are building and growing leading clean beauty brands and are committed to an omnichannel strategy of which the digital experience is critical. We partner with some of the world's leading retailers, and we want the consumer to enjoy their beauty experience where they want it and need it,” said Melo. “With a cash balance of $250 million, the strongest ingredients development pipeline in our history, significant acceleration of our revenue growth, and continued progress with our remaining strategic transaction, we continue a track record of industry-leading execution.”