Beauty Partners is branching beyond nails with the purchase of Coastal Salt & Soul, a bath and body care brand.
Terms of the deal were not disclosed, but Coastal Salt & Soul will be operated under a newly formed subsidiary of Beauty Partners called Celebrate Beauty Brands. Coastal Salt & Soul was created by Alisa Marie Beyer who remains with the company as chief innovation officer. Beyer will also stay on as a minority owner, as well as early investors Fredrick Fogelman and Teresa Shultz Fogelman.
This marks Beauty Partners first acquisition. Its founders, Barry Shields and Bruce Kowalsky, have big plans for the brand of beach-inspired bath and body products.
“With Coastal’s existing portfolio of hugely popular butters, hand creams and scrubs, as well as the development of new products and scents, we anticipate 2018 revenues between $15 million to $20 million” Kowalsky observed. “Together with Alisa and the rest of the team, we’re ready to start product development and innovation on new stock keeping units and consumer offerings.”
Shields told WWD the company plans to leverage its existing contacts in the industry and experience in beauty to build out Coastal Salt & Soul in North American and abroad. “It is a great fit with our existing business,” Shields said. Red Carpet’s distribution includes Nordstrom and Ulta Beauty. “Alisa has created a superstar brand —regularly selling out of top performing [stockkeeping units] and obtaining numerous consumer and industry awards. Coastal is the exact opportunity we were looking for in the luxury beauty space.”
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The product portfolio is inspired by Beyer’s love of the beach and includes sugar scrubs, hand creams, body butters, bubble bath, body wash, candles and gift sets. The brand is sold on QVC, online and through more than 300 spas and boutiques. Sales are estimated at $2 million.
“I’m confident that this sale is the single best path to provide Coastal Salt & Soul with the necessary resources to continue to fund and scale the business as it enters its next phase of growth,” stated Beyer, who has started up several beauty businesses over the years. “Celebrate Beauty Brands is extremely well positioned to build on our already strong momentum and incredible consumer loyalty through increased customer wins and new retailer partnerships.
Shields and Kowalsky, former Coty executives, have built a healthy business with their Red Carpet Manicure at-home gel collection, Red Carpet lacquers, a nail powder dip and the exclusive nail color Defy & Inspire at Target.