When Advent International announced it was acquiring three big beauty brands—bareMinerals, BUXOM and Laura Mercier—from Shiseido Americas in late August, the future of the iconic trifecta wasn’t totally clear.
As announced today, the trio will now live under the newly launched company, Orveon, a newly formed affiliate of Advent International, a global private equity firm. Orveon will be based in New York (with regional headquarters in London and Tokyo) and the company’s goal will be to “accelerate the growth of these brands…homing in on their quality, innovation and authenticity” with a mission focused on “going more than skin deep and focus on helping people move from ‘looking beautiful’ to ‘feeling great.’”
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“With Orveon, we are embarking on a journey to bring the world a new type of beauty company defined by solidarity, stark honesty and benevolent activism,” said chief executive officer Pascal Houdayer in a release. “We intend to unite these powerhouse brands and move to an era of innovative evolution, that will break down category barriers and societal conventions to form a sustainable face care expert. I feel honored to be a part of a team creating a space in which the industry and consumers can be advocates for change for the better.”
“We are thrilled to bring together three leaders in prestige beauty to build Orveon and are thankful toward Shiseido for being a supportive partner throughout this transaction,” said Tricia Glynn, a managing director at Advent. “With Pascal as CEO, we believe this collective will accelerate the growth of its individual brands, showcasing its expertise to cater to a complete face care routine across a diverse set of consumers for a modern world.”
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