Four of bankrupt Amyris’ beauty brands have recently been sold at auction, with the highest bidders securing the deals. Court documents reveal that online beauty retailer THG Beauty, previously known as The Hut Group, has acquired the renowned skincare brand Biossance for $20 million.
It is stated that THG Beauty, the owner of popular online retailers like Cult Beauty and Lookfantastic, as well as brands such as Perricone MD and Espa, saw Biossance as a valuable addition to their portfolio.
Biossance, known for its star ingredient squalane, has been considered the top brand in Amyris’ lineup and was highly anticipated to find a buyer. The brand’s focus on innovative and sustainable ingredients resonated well with consumers.
Scent Theory Products secured 4U By Tia, created in collaboration with Tia Mowry, for $600,000. This brand caters to the needs of individuals with hair textures ranging from 2A to 4C, offering a streamlined collection of need-based products.
Dr. Reddy’s Labs acquired Menolabs, a women’s health and technology company providing probiotics for women in perimenopause, menopause, and midlife, for $3 million. The brand focuses on addressing specific health concerns during transitional phases.
Clean baby care brand Pipette was purchased by HRB Brands for $1.75 million. Pipette’s commitment to clean and safe baby products resonated with parents seeking high-quality and gentle options.
Amyris, once a prominent biotech player aiming to revolutionize the beauty industry with sustainable ingredients, later ventured into celebrity-branded products. However, the company filed for Chapter 11 bankruptcy in August. The fate of other Amyris brands, including Stripes by Naomi Watts, Rose Inc. by Rosie Huntington-Whiteley, and JVN by Jonathan Van Ness from “Queer Eye,” remains unknown.
In October, former Calvin Klein designer Francisco Costa bid $350,000 for his brand Costa Brazil. However, Amyris had already announced the closure of Costa Brazil prior to the auction.
During the same month, Larissa Thomson, co-founder of Onda Beauty, won an online auction for the Tribeca lease, company name, website, and products in-store. Onda Beauty was initially established by Thomson, Watts, and Sarah Bryden-Brown but was later acquired by Amyris.
