Bansk Group has acquired a majority stake in skincare brand Byoma to accelerate its global growth, enhance its beauty portfolio, and capitalize on the resilient U.S. skincare market. Here's what you need to know:
Bansk Group Expands Beauty Portfolio by Acquiring Byoma. The firm acquired a majority stake in Byoma from Yellow Wood Partners. This adds to its existing lineup of haircare brands such as Amika, Eva NYC, and Ethique.
Marc Elrick will remain CEO alongside the current leadership team, allowing Byoma to maintain its vision while pursuing growth.
Byoma is currently sold at Target, Ulta, Amazon, Urban Outfitters, and Shoppers Drug Mart. The brand aims to accelerate its growth with support from Bansk.
Despite tariffs and inflation, mass beauty sales grew by 4% and prestige beauty by 2% in the first half of the year. Mass skincare specifically also increased by 4%, according to Circana.
The U.S. skincare market is projected to reach $26 billion in 2025, with a compound annual growth rate of 3.72% through 2030.
Other recent acquisitions in beauty include E.l.f.’s $1 billion purchase of Rhode and American Exchange Group’s acquisition of Indie Lee.
Bansk Group’s acquisition of skincare brand Byoma highlights the continued investor interest in high-growth, consumer-focused beauty brands.
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