12.16.16
Unilever's buying spree continues. The company has agreed to purchase Living Proof for an undisclosed amount. In recent months, Unilever has acquired several independents including Dermalogica, Kate Somerville, Murad and Ren.
Living Proof was founded in 2005 by venture capitalist and entrepreneur Jon Flint to bring advanced bio-medical technology to the beauty industry. The company's sales are said to be about $100 million, according to industry sources. Together with MIT professor, Robert Langer, he assembled a team of biomedical scientists and hair stylists to create a comprehensive portfolio of hair products that enable people to get visibly healthier hair, fight frizz, build volume and address a number of other hair care challenges. Through patented technology and advanced scientific discoveries originating from MIT, Living Proof has a unique offering. The company holds 20 patents for chemical technologies included in its shampoo and other hair care products. Langer also co-founded local biotechs including InVivo Therapeutics, Seventh Sense Biosystems and Pulmatrix Inc.
“We are delighted to be adding Living Proof to our portfolio of Prestige brands," Alan Jope, Unilever's president of personal care, said in a statement. "The prestige hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand.”
Living Proof is backed by venture capital firm Polaris Partners, and has raised more than $50 million in funding.
“I am extremely proud of Living Proof’s growth over the years and the difference our products make to people’s lives," Living Proof CEO Grace Ray said in a statement. "Unilever shares our deep commitment to science, quality and innovation, making them the ideal partner to take us to the next stage of our journey. I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room."
Living Proof was founded in 2005 by venture capitalist and entrepreneur Jon Flint to bring advanced bio-medical technology to the beauty industry. The company's sales are said to be about $100 million, according to industry sources. Together with MIT professor, Robert Langer, he assembled a team of biomedical scientists and hair stylists to create a comprehensive portfolio of hair products that enable people to get visibly healthier hair, fight frizz, build volume and address a number of other hair care challenges. Through patented technology and advanced scientific discoveries originating from MIT, Living Proof has a unique offering. The company holds 20 patents for chemical technologies included in its shampoo and other hair care products. Langer also co-founded local biotechs including InVivo Therapeutics, Seventh Sense Biosystems and Pulmatrix Inc.
“We are delighted to be adding Living Proof to our portfolio of Prestige brands," Alan Jope, Unilever's president of personal care, said in a statement. "The prestige hair retail market is very attractive and offers significant potential for growth. Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand.”
Living Proof is backed by venture capital firm Polaris Partners, and has raised more than $50 million in funding.
“I am extremely proud of Living Proof’s growth over the years and the difference our products make to people’s lives," Living Proof CEO Grace Ray said in a statement. "Unilever shares our deep commitment to science, quality and innovation, making them the ideal partner to take us to the next stage of our journey. I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room."
