Living Proof Is Getting a New Owner
By Carolyn Hsu |
This year we saw some major beauty acquisitions (Elizabeth Arden, Too Faced, IT Cosmetics, Becca) and there’s one more to go before the year wraps up. According to Reuters, Unilever announced that it’s acquired hair brand Living Proof for an undisclosed amount.
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Living Proof is known for its high-tech approach to hair care, based on biotechnology founded at MIT. The brand owns three proprietary molecules: OFPMA which repels dirt and eliminates frizz; PBAE, which creates thickness and fullness; and ETAS, which delivers weightless volume and texture. The brand is also famous for having a celebrity partial-owner, Jennifer Aniston, who works with the scientists on coming up with new products. Aniston also brought her longtime stylist (and creator of The Rachel haircut) Chris McMillan to the brand.
A recent report in WWD predicted that hair care will be the next big category for acquisitions. “There’s this trend known as the skin-ification of hair,” Arash Farin, managing director at The Sage Group tells WWD. “In skin, there are so many different regimens. In hair care, there are companies that have that mentality…if the [intellectual property] is [differentiated] and they understand the needs of customers who are traditionally underserved, they will be very hot.” The report names Devacurl and Oribe as two other brands that could be acquired in 2017.
Living Proof will become part of Unilever’s prestige portfolio, which also includes high-tech skin care brands Kate Somerville, Dermalogica and Murad.
Update: WWD is also reporting that Jennifer Aniston, who owned a partial stake in the brand, will not longer be affiliated with it.