The biotech company continues to grow its portfolio of clean beauty brands - which already consists of Biossance, Pipette, Rose Inc., JVN, Terasana, and Costa Brazil - with an agreement to acquire a majority stake in Gen Z-focused color cosmetics brand EcoFabulous.
“Gen Z consumers - people born between the mid-to-late 1990s and early 2010s - represent the fastest growing beauty segment in China, and one of the fastest growing segments in the US. Gen Z consumers have a strong desire for clean, natural and sustainable ingredients in their beauty products,” explains Amyris in a statement.
Founded by Marissa Shipman, EcoFabulous is focused on delivering high performance, makeup artist-quality clean beauty products in ecofriendly packaging, and priced for Gen Z consumers. Marissa Shipman previously founded theBalm cosmetics which became her first successful global color beauty line.
"I am passionate about building beauty products that deliver real performance for the beauty consumer and make no compromise with respect to clean ingredients and packaging because there is no planet B," said Marissa. "EcoFabulous is my latest brand innovation and I am looking forward to partnering with the Amyris team to accelerate our growth. I see an exciting future leveraging the opportunities that Amyris’s depth in sustainable ingredients brings to our brand."
Amyris is acquiring a 70% controlling interest in EcoFabulous and expects to grow the Gen Z consumer segment through their innovative science, sustainable ingredients, clean formulation and direct-to-consumer marketing expertise. Marissa Shipman will join Amyris to lead brand innovation and be the Chief Creative Officer for the EcoFabulous brand.
"We are very excited to be adding a Gen Z-focused offering to our portfolio," said John Melo, President and Chief Executive Officer of Amyris. "Marissa’s track record of beauty brand innovation speaks for itself and she has done an incredible job building a well-positioned cosmetics brand in EcoFabulous. Our brands are powered by our leading science and ingredients portfolio that deliver the best performing products in clean beauty and make our planet healthier. We have invested approximately $12 million in acquiring and developing new brands this year, mostly funded with Amyris equity. The new brands are estimated to represent 20% of consumer revenue this year. Our direct-to-consumer sales continues to experience excellent growth and we are now experiencing better than pre-COVID sales growth with our retail store partners."