According to WWD, L'Oréal has recently signed an agreement to acquire Youth to the People, a popular American skincare company based in California.
The brand was founded in 2015 by two cousins, Greg Gonzalez and Joe Cloyes. It was inspired by their grandmother, who created a professional skincare line 40 years ago, using plant extracts and unique active ingredients. Youth to the People’s growth has also been supported by its investors, Strand Equity, Carisa Janes and Sandbridge Capital.
The brand is well-known for its high-performance skincare products with formulas that combine premium vegan blends of superfood extracts with science. It is available in Australia, the US, Canada and in select European countries.
Commenting on the acquisition, L’Oréal Luxe president, Cyril Chapuy, said: “We are very pleased to welcome the 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. The brand’s core values and distinctive spirit reflected in its initiatives to amplify diverse voices, build a fairer world and enhance consciousness of the planet will be further celebrated at L’Oréal not only because they are precious to us, but because they are very true to our own values.”
Cloyes and Gonzalez added that they founded the brand to continue their family’s legacy of making skincare and to inspire and represent their community.
"Joining the L’Oréal family gives us the opportunity to realise all the dreams of Youth to the People,” they said. “Our brand’s mission is to make high-performance skincare using vegan ingredients with practices that are good to the planet and good to the people. We’re beyond excited about this partnership and the opportunity to amplify our shared values of investing in a just and sustainable future for all.”
Youth to the People is expected to record over US$50 Million of sales in 2021.
