The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The multi-brand beauty and personal care company formed by beauty investment from Waldencast Ventures and former Anheuser-Busch executive Felipe Dutra has gone public with a $300 million IPO, which includes an additional investment of up to $333 million in forward purchase agreements.
Waldencast Acquisition Corporation is the latest SPAC in the beauty and personal care space — health company Hims also chose this route to go public in October 2020. It’s a positive sign for the future of beauty and personal care mergers and acquisitions as they have withstood economic effects of the pandemic.
Waldencast Ventures founder Michel Brousset will serve as CEO of Waldencast Acquisition Corporation while Dutra will be in the executive chairman role. Hind Sebti will be the company’s chief operations officer.
Within Waldencast Acquisition Corporation’s S-1 IPO registration the company said their mission statement is “to build a global best-in-class beauty and wellness operating platform that will rival current incumbents… [and they] intend to seek brands with a direct connection to today’s evolving consumers.”
Shining light on the $12.3 billion SPF boom.
News of a potential exit has the beauty industry in shock and awe of the Selena Gomez-founded label, and wondering what its next move should be.
L'Oréal reported a 9.4 percent rise in first quarter sales on a like-for-like basis on Thursday, beating expectations and easing concerns about a slowdown in the two biggest beauty markets; the United States and China.
The founder, who was ousted and recently came back to the line as CEO, will regain control of the company.