Amyris, Inc., (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, today announced that it has executed a binding term sheet for the acquisition of Gen Z-focused beauty brand, EcoFabulous Cosmetics (EcoFabulous). The acquisition furthers Amyris’s growth and market leadership in clean beauty and complements Amyris’s family of consumer brands, consisting of Biossance®, Pipette®, Rose Inc., JVN, Terasana, and Costa Brazil.
Gen Z consumers – people born between the mid-to-late 1990s and early 2010s – represent the fastest-growing beauty segment in China and one of the fastest-growing segments in the US. Gen Z consumers have a strong desire for clean, natural, and sustainable ingredients in their beauty products. Amyris puts the needs of consumers and of the planet at the forefront of its brand offerings.
EcoFabulous, founded by Marissa Shipman is focused on delivering high-performance, makeup artist-quality beauty products that are clean, sustainable, and priced for Gen Z consumers. Marissa previously founded Balm cosmetics which became her first successful global color beauty line.
“I am passionate about building beauty products that deliver real performance for the beauty consumer and make no compromise with respect to clean ingredients and packaging because there is no planet B,” said Marissa. “EcoFabulous is my latest brand innovation and I am looking forward to partnering with the Amyris team to accelerate our growth. I see an exciting future leveraging the opportunities that Amyris’s depth in sustainable ingredients brings to our brand.”
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Amyris is acquiring a 70% controlling interest in EcoFabulous and expects to grow the Gen Z consumer segment through Amyris’s innovative science, sustainable ingredients, clean formulation, and direct-to-consumer marketing expertise. Marissa will join Amyris to lead brand innovation and be the Chief Creative Officer for the EcoFabulous brand.
“We are very excited to be adding a Gen Z-focused offering to our portfolio,” said John Melo, President and Chief Executive Officer of Amyris. “Marissa’s track record of beauty brand innovation speaks for itself and she has done an incredible job building a well-positioned cosmetics brand in EcoFabulous. Our brands are powered by our leading science and ingredients portfolio that delivers the best performing products in clean beauty and make our planet healthier. We have invested approximately $12 million in acquiring and developing new brands this year, mostly funded with Amyris equity. The new brands are estimated to represent 20% of consumer revenue this year. Our direct-to-consumer sales continue to experience excellent growth and we are now experiencing better than pre-COVID sales growth with our retail store partners.”
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding Amyris’s expectation of furthering its growth and market leadership in clean beauty, and in particular, with respect to the Gen Z consumer segment, with its acquisition of EcoFabulous; Amyris’s plans to acquire and launch EcoFabulous and the timing thereof; and Amyris’s expectations regarding launches of new brands, including that such brands will represent an estimated 20% of consumer revenue this year. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to any delays or failures in the successful acquisition and integration of EcoFabulous; potential delays or failures in development, production, regulatory approval and commercialization of products, risks related to Amyris’s reliance on third parties (including in the supply chain), Amyris’s liquidity and ability to fund operating and capital expenses, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update the information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo, No Compromise, Biossance, Pipette, and Purecane are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
Source: Biospace
