Indie Lee Acquired by American Exchange Group

American Exchange Group (AXNY Group) has acquired beauty brand Indie Lee, an early player in the clean beauty movement.

“We are thrilled to join forces with American Exchange Group, a company that shares our commitment to innovation and excellence. This partnership will enable us to reach new heights and bring our clean, effective beauty products to a wider audience,” said Indie Lee, who founded the brand in 2010.

The acquisition marks a strategic milestone for American Exchange Group, a fashion accessory products and brand management company that is expanding into the beauty and personal care industry. In August 2023, the company acquired HatchCollective and its roster of beauty and personal care brands that incudes NatureWell, Orlando Pita Play, TXTUR and Found Active.

“Beauty and personal care are among the fastest-growing categories, and with this acquisition, AXNY Group is poised to become a dominant leader in the space. We see a tremendous opportunity to develop Indie Lee’s direct-to-consumer business by leveraging American Exchange Group’s expertise and resources,” said Alen Mamrout, CEO of American Exchange Group. “We plan to expand Indie Lee products beyond skincare, both in-house and via licensing, and explore diffusion brands through licensing and brand expansion.”

Potential Retail Expansion

Indie Lee is an omnichannel brand, sold in more than 2,000 locations, primarily in North America. Key retailers include Blue Mercury and Ulta Beauty.

AXNY Group will look to expand the beauty brand’s presence.

“This move not only represents a strategic opportunity for expanded growth but also aims to introduce Indie Lee’s internationally recognized product lines to AXNY Group’s well-established retailer portfolio. Our continued strategy of growth through acquisition allows us to diversify our offerings and strengthen our position across various market segments,” said Steve Velasquez, chief strategy officer at American Exchange Group.