MILAN — The Ieva brand of connected jewelry said Thursday that it’s in exclusive talks to acquire Atelier du Sourcil, a French company specialized in the eye-care cosmetics and services.
The acquisition, which is subject to the approval of the board of directors of Ieva and the lifting of other closing conditions, is expected to take place toward the end of July.
“I can already see what technology can do for the eyebrow and eye-care cosmetics profession,” said Ieva founder and president Jean Michel Karam.
Blending beauty, well-being, tech and the environment, Ieva jewelry measures environmental stressors and physical activity. It’s linked to a mobile application, which gives preventative and personalized recommendations based on the environmental information and answers to brief questions pertaining to a person’s level of expertise in beauty, and hair and skin concerns.
Officially launched last year, Ieva was founded in June 2016 and kept tightly under wraps. The brand received a first round of funding of about 3 million euros in the second half of 2016 by Karam and CM-CIC Capital Innovation, among others. The private equity made an additional private placement last year, when Ieva raised other 2.5 million euros via a convertible bonds issuance.
Karam, a microelectronics expert, previously launched IOMA, a skin-care brand using its own high-tech analysis devices in-store to help the creation of customized products and recommended regimens, which was subsequently sold to Unilever.
Prior to that, he built MEMSCAP, a company based on developing MEMS technology — microscopic devices that detect changes to trigger desired responses — for the avionics, optical communications and medical fields.