Proctor and Gamble—which houses popular brands like Olay and SK-II—just announced that it’s acquired the widely loved skin care brand, First Aid Beauty, for $250 Million, Women’s Wear Daily reports.
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As a brand focusing on healing common skin concerns, particularly when it comes to sensitive skin conditions like acne, eczema and psoriasis, First Aid Beauty has grown tremendously since its inception in 2008. “When I look at where we are today, it’s almost a point of inflection for the business,” Lilli Gordon, the brand’s founder, told WWD in an interview. “We’ve been growing very healthily, but in order to sustain that growth over the next 10 years really takes a different mindset.”
So, what’s next for the brand now that it will fall under the P&G umbrella? Well for one, the products themselves will soon get a major boost. According to Gordon, the company will now be able to explore new avenues for product development, research and formulations, as well as potentially take “the philosophy of [FAB] into categories like hair.”
While hair care products from First Aid Beauty certainly won’t arrive any time soon, predictions like this have us beyond excited for the level of innovation P&G will inevitably help bring to the brand. And with prices ranging from only $12 to $58, we can’t wait to stock up on future launches!
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