4 of bankrupt Amyris’ beauty brands have been sold at auction to the best bidders.
In accordance with court documents, skincare brand Biossance has been sold to online beauty retailer THG Beauty, formerly often called The Hut Group, for $20 million. THG owns online retailers including Cult Beauty and Lookfantastic, and types corresponding to Perricone MD and Espa.
Centered around Amyris’ star ingredient, squalane, Biossance has long been considered the most effective brand on its roster and the almost certainly to search out a buyer.
Elsewhere, Scent Theory Products paid $600,000 for 4U By Tia, launched in partnership with Tia Mowry to satisfy the needs of those with 2A through 4C hair textures by providing a streamlined assortment of need-based products.
Dr. Reddy’s Labs paid $3 million for Menolabs, a women’s health and technology company that gives probiotics for ladies in perimenopause, menopause and midlife.
And HRB Brands paid $1.75 million for clean baby care brand Pipette.
Amyris, a onetime biotech darling that sought to alter the sweetness industry with progressive and sustainable ingredients and later moved into the celebrity brand world, filed for Chapter 11 bankruptcy in a Delaware Court in August.
As of yet there was no word on a few of its other brands on the market, including Naomi Watts’ menopausal beauty brand Stripes, color cosmetics line Rose Inc. with model Rosie Huntington-Whiteley, and hair care brand JVN with “Queer Eye” star Jonathan Van Ness.
In October, Francisco Costa, the previous Calvin Klein designer, bid to pay $350,000 for his brand Costa Brazil. Prior to this, Amyris revealed that it could be shuttering the brand.
Throughout the same month, Onda Beauty cofounder Larissa Thomson won a web-based auction for the Tribeca lease, the corporate name, website and products in store. Onda was founded by Thomson, Watts and Sarah Bryden-Brown, but later acquired by Amyris.
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