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Acquisition expands move into skin care.
August 4, 2021
By: TOM BRANNA
Editor
Personalized hair care company Function of Beauty acquired Atolla, a customized skin care brand. It is Function of Beauty's first acquisition. A purchase price was not disclosed. Atolla, which debuted in 2019, has a patented technology that analyzes the customer's skin and makes skin care serums that change over time to meet customers' needs. “Six years ago, we launched the first direct-to-consumer personalized beauty products with customized haircare, which remains the most advanced offering of customized hair care to date on the market. With the acquisition of Atolla, Function of Beauty now has the ability to offer the world's most advanced skin care system — one that is truly personalized to every single customer through the combination of our ground-breaking manufacturing technologies and Atolla's patented skin care system,”said Function of Beauty Co-Founder and CEO, Zahir Dossa in a statement. “Function of Beauty is striving to revolutionize the beauty industry by making personalization the new norm, and this is one step further to make that vision a reality.” Last year, Function of Beauty entered the skin care space with face wash, serum and moisturizer that, like its hair care offerings, can be customized in about 3 billion ways. Also last year, Function of Beauty entered the traditional retail channel via Target. “We've always been on a mission to change the mass skin care model,” said Atolla Co-Founder and CEO Meg Maupin. “Now more than ever, the beauty consumer is looking for a routine they can rely on, so we created a unique skin care system that is both simple and powerfully effective. With the extraordinary reach and capabilities of Function of Beauty, our patented technology can rapidly expand and we are absolutely thrilled to be moving forward together.” The move comes after Function of Beauty received a $150 million investment from L Catterton. At that time, the business was said to be seeking a $1 billion valuation, and had about $100 million in sales.
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