THE WHAT? AS Beauty has announced that it has acquired skin care brand, Bliss from L Catterton. The purchase is AS Beauty’s fifth acquisition since 2019 and its first foray into the skin care market.
THE DETAILS Terms of the deal were not disclosed but WWD pegs the brand’s revenue at more than US$40 million.
“It is very exciting for the Bliss brand to enter its next chapter of growth with AS Beauty, their operational excellence, and strong digital expertise will accelerate the brand growth and mission of making the Bliss brand accessible to all,” says Meri Baregamian, CEO of Bliss.
THE WHY? Ralph Azrak, Chief Operating Officer of AS Beauty, explains, “The acquisition of Bliss marks the next phase of growth for AS Beauty. Our approach to business development has allowed us to find exponential success in growing brands in the mass and traditional beauty space, and we are excited to use our resources and strategies to break into the skincare category and take this business to even greater heights.”