French beauty Goliath L’Oréal has acquired a majority stake in American skin care favourite Youth to the People.
Founded in Los Angeles, US, in 2015 by cousins Greg Gonzalez and Joe Cloyes, the brand was inspired by their grandmother, Eva, who started a professional skin care line 40 years prior, using plant extracts and active ingredients.
Six years later, the brand, which landed in the UK market earlier this year, is expected to turnover more than US$50m in sales.
The brand’s popularity has grown out of its Californian wellness hybrid skin care items and its ability to tap into the skinimalism trend – a less is more approach to skin care.
Today, one of its best-selling items is the Superfood Cleanser.
Upon launch on Cult Beauty, the sku sold out in under 12 hours and racked up a 3,000-strong waiting list.
“Our whole idea for Youth to the People was a really good cleanser, a really great serum and moisturiser that could impact your skin in a positive way. We believe in the skin minimalism concept,” Gonzalez told Cosmetics Business at the time.
“When you need to reset and recalibrate your skin, a lot of times the best approach is less. Like most things in life, less is more, and if you're focusing on some sort of condition, it's not always about more products.”
“We are very pleased to welcome the Youth to the People brand, its founders and fantastic team,” added Cyril Chapuy, President of L’Oréal’s Luxe division.
“Because of its solid reputation and remarkable product quality, Youth to the People is a favourite among all genders.
“Its skin care expertise based on healthy, vegan, high-efficacy formulas make it a strategic addition to L’Oréal Luxe.”
L’Oréal’s takeover, however, is not the first time the brand has attracted attention from investors.
In 2018, the brand received a minority investment from growth equity company Strand Equity, which offered its insights in marketing and operations from the food, beverage and wellness industry.
The brand has also been backed by Sandbridge Capital and Carisa Janes.
“We founded Youth to the People to continue our family’s legacy of making skin care and to inspire and represent our community,” added the founders in a statement.
“Joining the L’Oréal family gives us the opportunity to realise all the dreams of Youth to the People.
“Our brand’s mission is to make high-performance skin care using vegan ingredients with practices that are good to the planet and good to the people.
“We’re beyond excited about this partnership and the opportunity to amplify our shared values of investing in a just and sustainable future for all.”