One other beauty brand is hitting the market, WWD has learned.

Pioneering “clean” skincare brand OSEA has reportedly tapped Raymond James because it explores deal options, in keeping with industry sources.

Each OSEA and Raymond James declined to comment.

Financo, now a component of Raymond James, handled OSEA’s first deal in 2021. The brand landed a minority investment from Cavu Enterprise Partners, which also holds stakes in skincare brands Nécessaire and Topicals.

Sources pegged the brand’s net sales at around $100 million annually, about a fair split between retail and the brand’s website. It is on the market at Ulta Beauty, along with Nordstrom and smaller specialty retailers. 

The brand is one in all a plethora hitting the M&A market, though the bulk fall under makeup. Those are said to incorporate Rare Beauty, Glossier, Merit, Kosas and Jane Iredale, as previously reported.

OSEA, which was founded by mother and daughter Jenefer and Melissa Palmer in 1996, derives its name — an acronym for ocean, sun, earth and atmosphere — from the seaweed mix and other botanicals it incorporates into its products.

On the time of its last deal, the brand said its consumer base was bifurcated between shoppers aged 25 to 34, and people over 55. At the identical time, it had filled out its C-suite with the hiring of Erin Cotter as chief marketing officer and Melissa Mao as chief sales officer. It planned to make use of the investment to ramp up product development and international expansion, as reported.

Amongst its hero products, its Undaria Algae Body Oil was named one in all the best skincare products of all time by WWD Beauty Inc in February. Other top sellers include its Anti-Aging Body Balm, Hyaluronic Sea Serum and Collagen Dream Night Cream.

Raymond James can be reportedly handling the evaluation of economic options for the Selena Gomez-founded Rare Beauty jointly with Goldman Sachsto — which range from a outright sale to an IPO — and has worked previously on deals including the sale of Dr. Dennis Gross to Shiseido and K18 to Unilever Prestige.