L’Oréal Acquires Youth to the People. The brand is expected to record over $50 Million of sales in 2021.
L’Oréal announces a statement in its official website that it signs an agreement to acquire Youth to the People, an American skincare company based in California.
Youth to the People was founded in Los Angeles in 2015 by two cousins, Greg Gonzalez and Joe Cloyes. The brand is inspired by their grandmother, Eva, who started a professional skincare line 40 years ago, utilizing plant extracts and innovative active ingredients. The brand’s growth has been supported by its investors, Sandbridge Capital, Strand Equity and Carisa Janes.
Youth to the People develops and markets high-performance skincare products known for formulas that combine premium vegan blends of superfood extracts and science. Available in the US, Canada, Australia, and in select European countries where it enjoys a very strong appeal, the brand is marketed through an omnichannel distribution – mix of D2C e-commerce and selective distribution. The brand is expected to record over $50 Million of sales in 2021.
Cyril Chapuy, President of L’Oréal Luxe, said, “We are very pleased to welcome Youth to the People brand, its founders and fantastic teams. Because of its solid reputation and remarkable product quality, Youth to the People is a favorite among all genders. Its skincare expertise based on healthy, vegan, high-efficacy formulas make it a very strategic addition to L’Oréal Luxe.
Stéphane Rinderknech, President North America & Chief Executive Officer L’Oréal USA, added, “We have been inspired by the passion and vision of the brand’s two founders, Joe Cloyes and Greg Gonzalez, in bringing the best of the health-conscious, California lifestyle to high performance beauty. We believe in the potential of this special brand, and we look forward to working with the Youth to the People team to help them realize this potential. I am thrilled to have Youth to the People join our growing portfolio of American brands on the West Coast.”
Joe Cloyes, Founder & CEO, and Greg Gonzalez, Founder & CBO, of Youth to the People, said, “We founded Youth to the People to continue our family’s legacy of making skincare and to inspire and represent our community. Joining the L’Oréal family gives us the opportunity to realize all the dreams of Youth to the People.