Publicly listed Japanese company Kao has acquired Bondi Sands for $450 million.
👉 Background: Bondi Sands was founded back in 2012 in Melbourne and specialises in self-tanning products. Get this: the business was almost over before it began, with its first batch of products turned their customers green instead of golden brown.
👉 What happened: But since then, Bondi Sands has become one of the largest players in the DIY tan market, and has even dabbled in other categories like sunscreen and skincare. This has helped it grow its revenue by over 100% in the past 3 years to over $105 million.
👉 What else: Now, publicly listed Japanese company Kao has acquired Bondi Sands for a lazy $450 million. Kao clearly wanted to get its hands on another fast-growing skincare brand... because skincare is hot right now.
💡Skin is in, baby! The world has gone gaga for skincare products over the past 5 years, and this industry is hotter than Bondi beach at midday in the peak of summer.
💡We've been swamped with #SkincareTok lately, and Bondi Sands is here for it. We're talking two million-plus social media followers and 10 million active customers globally.
💡Kao is snapping up Bondi Sands with its sun-smart range to make sure they have a slice of this juice skincare pie, which is expected to grow at nearly 7% each year.
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