PARIS — L’Oréal said it has signed an agreement to acquire Youth to the People, the Los Angeles-based indie skin care brand with products containing superfood ingredients, cold-pressed extracts and natural botanicals.
Financial terms of the deal were not disclosed.
Youth to the People was founded in 2015 by cousins Greg Gonzalez and Joe Cloyes. Eva, their grandmother who launched a professional skin care brand four decades ago, inspired their brand.
Youth to the People has had backing by investors Sanbridge Capital, Strand Equity and Carisa Janes.
The brand is sold through omnichannel distribution in the U.S., Canada, Australia and some European markets. It is expected to register sales of more than $50 million this year.
“Because of its solid reputation and remarkable product quality, Youth to the People is a favorite among all genders,” said Cyril Chapuy, president of L’Oréal Luxe, in a statement released late Wednesday night. “Its skin care expertise based on healthy, vegan, high-efficacy formulas make it a very strategic addition to L’Oréal Luxe. The brand’s core values and distinctive spirit reflected in its initiatives to amplify diverse voices, build a fairer world and enhance consciousness of the planet will be further celebrated at L’Oréal not only because they are precious to us, but because they are very true to our values.”
“We have been inspired by the passion and vision of the brand’s two founders, Joe Cloyes and Greg Gonzalez, in bringing the best of the health-conscious, California lifestyle to high-performance beauty,” said Stéphane Rinderknech, president North America and chief executive officer of L’Oréal USA. “We believe in the potential of this special brand, and we look forward to working with the Youth to the People team to help them realize this potential.”
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Coyes and Gonzalez, who serve as CEO and chief brand officer of Youth to the People, respectively, said jointly they’d founded the brand to continue their family’s legacy “of making skin care and to inspire and represent our community.”
“Joining the L’Oréal family gives us the opportunity to realize all the dreams of Youth to the People,” they said. “Our brand’s mission is to make high-performance skin care using vegan ingredients with practices that are good to the planet and good to the people. We’re beyond excited about this partnership and the opportunity to amplify our shared values of investing in a just and sustainable future for all.”
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