Youth to the People was founded in Los Angeles in 2015 by two cousins, Greg Gonzalez and Joe Cloyes, inspired by the expertise of their grandmother Eva, who developed a professional skincare line over 40 years ago using plant extracts and innovative active ingredients. Investors Sandbridge Capital, Strand Equity and Carisa Janes have supported the brand's growth.
Youth to the People develops and markets high-performance skin care products known for their innovative formulas that scientifically combine premium and vegan superfood extracts.
Available in the United States, Canada, Australia and certain European countries where it is very successful, the brand is marketed through omnichannel distribution, both in D2C e-commerce and selective distribution.
The brand's sales are expected to exceed $50 million in 2021.
Commenting on the acquisition, Cyril Chapuy, CEO of L'Oréal Luxe, said: "We are very excited to welcome the Youth to the People brand, its founders and its fantastic teams. Thanks to its solid reputation and the remarkable quality of its products, Youth to the People is a brand that is appreciated by all. Its expertise in skincare, based on healthy, vegan and highly effective formulas, makes it a very strategic acquisition for L'Oréal Luxe. L'Oréal will celebrate more than ever the brand's core values and distinctive spirit reflected in its initiatives to carry diverse beliefs, build a fairer world and strengthen ecological awareness, not only because they are valuable to us, but more importantly because they are perfectly aligned with our own values."
Stephane Rinderknech, managing director North America & L'Oréal USA, added: "We were very inspired by the passion and vision of the brand's two founders, Joe Cloyes and Greg Gonzalez, who have combined the best of the California lifestyle focused on wellness and health, with high-performance beauty. We believe in the potential of this unique brand, and we look forward to working with the Youth to the People teams to help them realize that potential. I'm thrilled that Youth to the People will help expand our portfolio of U.S. brands on the West Coast."
Joe Cloyes, founder and CEO of Youth to the People, and Greg Gonzalez, founder & Chief Brand Officer of the brand, said, " We founded Youth to the People to continue our family's legacy in skin care and to inspire and represent our community. Joining the L'Oréal family gives us the opportunity to realize all of Youth to the People's dreams. Our brand's mission is to design high-performance skincare using vegan ingredients and craftsmanship that is both planet-friendly and beneficial to consumers. We look forward to this partnership and opportunity to bring to life our shared ambitions of investing in a just and sustainable future for all."
This acquisition is subject to customary regulatory approvals and other customary closing conditions.
