Latest news with #G.O.A.T.Wisdom:HowtoBuildaTrulyGreatBusiness'
Yahoo
a day ago
- Business
- Yahoo
L'Oréal Is Acquiring Medik8 Skin Care Brand
PARIS — L'Oréal is digging deeper into premium skin care by taking a majority stake in Medik8. The news, announced Monday morning, confirms a WWD report on May 9 that L'Oréal had emerged as the front-runner to acquire the U.K.-based brand. More from WWD EXCLUSIVE: Beekman 1802 Founders Release Book 'G.O.A.T. Wisdom: How to Build a Truly Great Business' Assessing the Opportunities and Barriers in Developing Designer Fragrances EXCLUSIVE: Olympic Gymnast Jordan Chiles Becomes Hero Cosmetics' Latest Global Ambassador As part of the deal Inflexion, a European mid-market private equity firm, is to remain a minority shareholder. Medik8's founder Eliot Isaacs will continue serving on its board, and the management committee will stay, as well. L'Oréal also now has the rights to buy out the minority shareholders of Medik8 in full. The financial terms of the deal were not disclosed, but it has been pegged at about 1 billion euros, according to media reports, indicating a return to unicorn valuations in the beauty industry. 'This acquisition further strengthens L'Oréal's Luxe portfolio, adding a premium, science-backed skin care brand with a proven track record of success, with strong potential for global growth,' L'Oréal said in a statement released Monday. Cyril Chapuy, president of L'Oréal Luxe, said that 'as a premium skin care range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skin care portfolio.' He added: 'We share a strong belief in Medik8's global potential, and are excited to embark on this journey together, to build a powerful and impactful brand presence worldwide.' Simon Coble, chief executive officer of Medik8, said the brand was 'joining forces with a company which shares our vision for future growth and whose core values align with our deep commitment to science, innovation and, above all, results without compromise. I look forward to the next stage in Medik8's journey, as we work together to bring our innovative products to a wider audience.' Isaacs said in a separate statement released by Medik8 that the brand was born to prove that skin care can deliver no-compromise results, which are rooted in science, consumer experience and driven by sustainability. 'I am delighted that Medik8 has now found its long-term home at L'Oréal — a partner that fundamentally embraces our vision and gives us the platform to deliver it on a truly global scale,' he said. WWD had been told there were numerous suitors wooing Medik8, which is in the hot beauty category of prestige skin care. At the beginning of the year, WWD reported that Medik8 was exploring deal options. In a WWD article published on Jan. 27, Coble said: 'It's natural that we are starting to think about our future and also about future growth investments. We have no specific plans or timeline in place. The business is very well invested in today, is extremely profitable and there is no urgency on our part.' In 2025, the brand's global revenues are expected to hit around $115 million, while its sales in 2024 were up 50 percent. Medik8's hero product is its Crystal Retinal serum, and the brand is also known for its proprietary CSA Philosophy, a system using vitamin C and sunscreen in the day, followed by vitamin A by night. In January, Medik8 unveiled its new Liquid Peptides Advanced MP serum. Medik8's peptide products have become a growth engine for it in the U.S. market, which the brand entered in 2023. Medik8's Crystal Retinal Serum was included in WWD Beauty Inc's 100 Greatest Skin Care Products of All Time. The brand's products are developed and manufactured in-house in its U.K. Innovation Center, based outside of London. Medik8, a B Corp-certified brand, was founded in 2009 by Isaacs. Today, it has more than 300 employees and sells products in more than 7,000 clinics. 'Still true to its professional origins, the brand has also evolved toward a diversified omnichannel sales mix across the most prominent online and offline retailers in Europe, with a growing presence in the U.S.,' L'Oréal said in the statement. Medik8 is sold in professional clinics, pharmacies, on its direct-to-consumer website and through e-tailers and retailers, including Space NK, Sephora U.K. and Harrods. L'Oréal's Luxe division has a portfolio of brands including Lancôme, Yves Saint Laurent, Helena Rubenstein, Carita, Biotherm, Aesop, Kiehl's, Youth to the People, Shu Uemura and Yue Sai. In the first three months of 2025, the division led the group's overall sales growth. L'Oréal Luxe registered sales of 4.09 billion euros, up 7.3 percent on a reported basis and 5.8 percent in like-for-like terms. News of the Medik8 acquisition comes less than two weeks after it was announced that E.l.f. Beauty was acquiring Hailey Bieber's Rhode in a transaction valuing at $1 billion. This marks an uptick in beauty deals after a period of decline. A bevy of beauty brands had entered the market over the last year, but most of those never culminated in deals. Best of WWD Which Celebrity Brands Are Next for a Major Deal? Lady Gaga, Beyonce and More Possible Contenders for the Next Corporate Prize The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS]
Yahoo
2 days ago
- Business
- Yahoo
Iris Ventures Leads Multimillion-dollar Investment Into Fast-growing Wellness Platform Healf
— Healf, a leading online retailer selling premium wellness products, has closed a multimillion-dollar funding round led by Iris Ventures, an international growth equity firm specializing in next-generation lifestyle and health-focused brands. Launched four years ago by brothers Lestat McCree and Max Clarke, Healf has become one of the U.K.'s fastest-growing well-being companies. It has built a reputation for its polished curation, clear communication and a personalized approach to well-being. More from WWD The Top Five Health and Wellness Trends in 2025, According to The Vitamin Shoppe Farfetch Pushes Into South Korea, One of the World's Biggest Luxury Markets EXCLUSIVE: Beekman 1802 Founders Release Book 'G.O.A.T. Wisdom: How to Build a Truly Great Business' The company has been able to scale quickly in what remains a fragmented market in the U.K., populated by pharmacies and retail chains that are often cluttered with product — and the opposite of aspirational. Healf has a growing community of 325,000 customers and 282,000 followers on Instagram, and is on track to post $100 million in revenue by the end of 2025. The plan is to expand Healf across Europe and capitalize on the booming wellness trend. The personal health and well-being category alone is estimated to be worth $1.8 trillion globally. Healf's approach is to help people take control of their health with a holistic approach that's focused on the basics: eating, moving, sleeping and mindfulness. The site stocks more than 4,000 curated products to tend to those needs, and helps customers personalize their approach. Healf is also packed with slick editorial images and articles on how to lower cortisol levels naturally; special massages for lymphatic health; and how to bring 'more brain-soothing beauty into your life.' Customers take surveys to help them target the best remedies, and there is also an AI assistant that doles out recommendations about gut health, sleep habits and how to manage stress and anxiety. McCree said he and Clarke started the company because 'well-being shouldn't feel overwhelming — but it so often does. From Day One, Healf has been dedicated to cutting through the noise with simplicity, credibility and curation.' He added that the company's trademarked Four Pillars strategy focused on eating, moving, sleeping and mindfulness acts as a compass, and helps the founders deliver on quality, service and product offerings. Clarke said he and his brother were inspired by their own well-being journeys and have experienced the 'tangible and synergistic benefits that accompany a holistic approach to well-being — a major unlock we believe all consumers deserve access to.' Florian Wojewodzki, partner at Iris Ventures, said 'we quickly understood that Max and Lestat were a rare breed of founders. They are mission-driven brothers exemplifying laser focus and militant execution at every turn. 'Their uncompromising pursuit of product, innovation and customer journey excellence has been a masterclass, and propelled Healf to the forefront of health and wellness disruption. The company's highly engaged and growing community is a testament to its standout offering and the consumer trust it has so deservedly earned,' Wojewodzki said. Montse Suarez, founder and managing partner of Iris Ventures, said that 'with smart retail curation, personalized tech, and habit-forming products, wellness is no longer an add-on — it's seamlessly woven into everyday life. We're seeing a powerful shift from reactive fixes to proactive strategies. 'Max and Lestat recognized this early on and, with unwavering focus on excellence, have rapidly built an exceptional business. We're proud to partner with them and to help shape the future of well-being together,' she said. Iris Ventures is a thematic fund targeting European, U.K. and U.S. high-growth customer-centric brands and tech-enabled solutions across consumer sectors including beauty, health, wellness, family, lifestyle, nutrition, daily tech and modern commerce. Recent investments have included Maurten, a global sports nutrition company based in Sweden; Biomel, a plant-based gut health brand; and Superlativa, a drug- and hormone-free supplement that aims to help manage stress and regulate women's levels of cortisol. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
4 days ago
- Business
- Yahoo
EXCLUSIVE: Beekman 1802 Founders Release Book ‘G.O.A.T. Wisdom: How to Build a Truly Great Business'
The Beekman 1802 founders are gearing up to share 15 years worth of wisdom. On July 1, Beekman 1802 founders Dr. Brent Ridge and Josh Kilmer-Purcell will release their book 'G.O.A.T. Wisdom: How to Build a Truly Great Business' published by the Harvard Business Review Press and available at all major booksellers. The book explores the brand's history over the past 15 years and the team's wisdom on 'how to grow a business the good old-fashioned way,' according to Ridge. More from WWD Pinterest Predicts a Digital Detox, Martha Stewart-filled Summer EXCLUSIVE: Olympic Gymnast Jordan Chiles Becomes Hero Cosmetics' Latest Global Ambassador EXCLUSIVE: Glossier Gets In on Body Care, Mists 'We thought it was a good time to relay what we had learned in that process, but also about two years ago, when we first started putting the book together, we could see this rise in tension between the haves and the have-nots, and small business and the middle class and the shrinking of the middle class,' he said. 'There were so many representations of super success… We thought there really isn't a good representation or good manual for how to grow a good, solid business, starting from main street. [At] Beekman, we really do still consider ourselves a Main Street brand, and because of that, we have a deep insight into not only Middle America, but full middle-class America.' The book is broken down into 12 key principles, such as 'Two Heads Are Better Than One,' exploring 'how to be a partner,' and 'Love Thy Neighbor,' which looks at 'how to market kindly.' 'It really does cover all the aspects of starting and growing a business, from how to make your first hires, how to delegate, how to create company culture,' Ridge said. 'It's a really great primer for people who are interested in either starting a business or making the business that they have started stronger.' The book focuses on several key themes that have driven the Beekman business, chief among them love. 'The idea of creating a love brand is something that I think companies that have started in the past five years have no notion of,' Ridge said. The book's title is, of course, inspired by the goats that supply the milk that powers Beekman 1802's microbiome-supporting products, and the overall concept of building a great, sustainable business. 'I'm a voracious reader of business books, and after you've read more than five of them, you realize it's usually always the same information,' Ridge said. 'So we had this idea of going back to old proverbs and old maxims that have been utilized for hundreds or thousands of years, the same maxims that are in every different culture… These same foundational principles that have inspired people for hundreds of years, they're still practical and useful today.' While the principles may be familiar to readers, the book's goal is to offer new and insightful ways of applying these age-old wisdoms. The book pulls from Beekman's brand history as the main narrative, as well as business psychology research to amplify the team's approach to success. While the book explores the art of business, Ridge knew that they would be speaking to several audiences with it. With that, he said the book will explore moments in the brand's history that friends and followers likely haven't heard before. 'One [reader] is the general business audience that Harvard Business Review speaks to. Then we knew that it would be our loyal customers, and so we wanted to make sure that we gave enough behind the scenes to things that they have never heard us talk about before, so that they feel like they've been rewarded for reading the book,' he said. This loyalty to their customers, who the Beekman team calls neighbors, also shines through the book's dedication, which states 'To all the neighbors who grew this.' In addition to offering consumers and business readers an inside glimpse into Beekman, it was a sort of therapeutic experience for Ridge and Kilmer-Purcell. 'When you're an entrepreneur and you're growing a business, you don't always take the time to reflect on the journey, because you're just in it,' Ridge said. While the book marks a major moment in Beekman 1802's history, Ridge said it marks a significant shift for the overall industry, as this is the first book the Harvard Business Review Press has published based on a beauty brand. In addition, the Harvard Business School will be doing a case study course on Beekman 1802 later this year. 'The fact that this was their first book that they did based on the beauty industry does show how important the beauty industry has become, just in terms of the bigger business world,' Ridge said. 'It has become such a cultural touch point for all businesses.' Best of WWD How Grooming Is Introducing Men to Self-care and Redefining Masculinity Clean Beauty Brand Ignae Makes Big U.S. Push With a New Look War Paint for Men Opens First Store in London's Carnaby Street Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Iris Ventures Leads Multimillion-dollar Investment Into Fast-growing Wellness Platform Healf
— Healf, a leading online retailer selling premium wellness products, has closed a multimillion-dollar funding round led by Iris Ventures, an international growth equity firm specializing in next-generation lifestyle and health-focused brands. Launched four years ago by brothers Lestat McCree and Max Clarke, Healf has become one of the U.K.'s fastest-growing well-being companies. It has built a reputation for its polished curation, clear communication and a personalized approach to well-being. More from WWD The Top Five Health and Wellness Trends in 2025, According to The Vitamin Shoppe Farfetch Pushes Into South Korea, One of the World's Biggest Luxury Markets EXCLUSIVE: Beekman 1802 Founders Release Book 'G.O.A.T. Wisdom: How to Build a Truly Great Business' The company has been able to scale quickly in what remains a fragmented market in the U.K., populated by pharmacies and retail chains that are often cluttered with product — and the opposite of aspirational. Healf has a growing community of 325,000 customers and 282,000 followers on Instagram, and is on track to post $100 million in revenue by the end of 2025. The plan is to expand Healf across Europe and capitalize on the booming wellness trend. The personal health and well-being category alone is estimated to be worth $1.8 trillion globally. Healf's approach is to help people take control of their health with a holistic approach that's focused on the basics: eating, moving, sleeping and mindfulness. The site stocks more than 4,000 curated products to tend to those needs, and helps customers personalize their approach. Healf is also packed with slick editorial images and articles on how to lower cortisol levels naturally; special massages for lymphatic health; and how to bring 'more brain-soothing beauty into your life.' Customers take surveys to help them target the best remedies, and there is also an AI assistant that doles out recommendations about gut health, sleep habits and how to manage stress and anxiety. McCree said he and Clarke started the company because 'well-being shouldn't feel overwhelming — but it so often does. From Day One, Healf has been dedicated to cutting through the noise with simplicity, credibility and curation.' He added that the company's trademarked Four Pillars strategy focused on eating, moving, sleeping and mindfulness acts as a compass, and helps the founders deliver on quality, service and product offerings. Clarke said he and his brother were inspired by their own well-being journeys and have experienced the 'tangible and synergistic benefits that accompany a holistic approach to well-being — a major unlock we believe all consumers deserve access to.' Florian Wojewodzki, partner at Iris Ventures, said 'we quickly understood that Max and Lestat were a rare breed of founders. They are mission-driven brothers exemplifying laser focus and militant execution at every turn. 'Their uncompromising pursuit of product, innovation and customer journey excellence has been a masterclass, and propelled Healf to the forefront of health and wellness disruption. The company's highly engaged and growing community is a testament to its standout offering and the consumer trust it has so deservedly earned,' Wojewodzki said. Montse Suarez, founder and managing partner of Iris Ventures, said that 'with smart retail curation, personalized tech, and habit-forming products, wellness is no longer an add-on — it's seamlessly woven into everyday life. We're seeing a powerful shift from reactive fixes to proactive strategies. 'Max and Lestat recognized this early on and, with unwavering focus on excellence, have rapidly built an exceptional business. We're proud to partner with them and to help shape the future of well-being together,' she said. Iris Ventures is a thematic fund targeting European, U.K. and U.S. high-growth customer-centric brands and tech-enabled solutions across consumer sectors including beauty, health, wellness, family, lifestyle, nutrition, daily tech and modern commerce. Recent investments have included Maurten, a global sports nutrition company based in Sweden; Biomel, a plant-based gut health brand; and Superlativa, a drug- and hormone-free supplement that aims to help manage stress and regulate women's levels of cortisol. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
