Yesterday, American Exchange Group (AEG) has announced that it acquired a clean skincare brand Indie Lee.
This acquisition is AEG’s second venture into the beauty sector, following its purchase of HatchCollective in 2023, now known as AX Beauty Brands. HatchCollective’s portfolio includes NatureWell, Orlando Pita Play, Txtur, and Paint & Petals. AEG’s strategy for these brands involved accelerating product development timelines to quickly respond to market trends.
Josh Kirson, AEG’s senior vice president of new business development, highlighted the potential for rapid growth with the addition of Indie Lee to their portfolio. He emphasized the company’s commitment to investing in the brand to amplify its message, attract new consumers, and accelerate its expansion. A key focus will be on new product development, although financial terms of the acquisition were not disclosed.
Indie Lee was founded in 2010 and known for its “clean” products grounded in nature and supported by science. Indie Lee’s products, sold at prominent retailers like Ulta Beauty, Blue Mercury, Credo Beauty, and Nordstrom, range from $16 for the Banish Stick to $135 for the Stem Cell Serum.
AEG plans to increase Indie Lee’s product launch frequency from one new product per year to two. This strategy includes enhancing financial support for clinical testing and sourcing quality ingredients more efficiently. In 2024, Indie Lee’s new launch was a CoQ-10 Cleanser featuring papaya and cucumber extract. Kirson noted that these efforts aim to fill specific gaps in the market, driving the brand’s growth.
