To receive the Vogue Business newsletter, sign up here.
Japanese consumer goods company Kao is acquiring Bondi Sands, an Australian brand known for its self-tanning products and sunscreen, as part of a strategy to scale its skin protection category.
Kao’s Australian and US subsidiaries will take ownership of Bondi Sands from its founders Blair James and Shaun Wilson when the deal completes. The terms are undisclosed.
Kao, which owns John Frieda, Bioré, Jergens and Molton Brown, has been positioning its skincare category as a key growth driver in its mid-term management plan. The Bondi Sands acquisition will allow the company to deepen its focus on skin protection, leveraging its UV care technologies in Japan and self-tanning technologies in the US, the company said. “The addition of Bondi Sands to our consumer family of brands will greatly advance our mission to be the preeminent leader in the global skin protection business,” says Karen Frank, Kao president of consumer care business, Americas and EMEA, via a statement.
Bondi Sands, which was founded in 2012, is the latest Australian brand to be snapped up by a global player, following L’Oréal’s acquisition of Aesop for $2.5 billion in April. The country has led the way with clean skincare and has much to offer as a source of inspiration for the beauty sector, including a more sophisticated take on sunscreens.
Globally, investments in suncare brands have been heating up: in February, Miley Cyrus invested in tanning artist Isabel Vita’s self-tanning brand Dolce Glow, and in May, sunscreen brand Vacation raised $6 million in a Series A funding round. The global suncare market grew by 7 per cent to $2.7 billion in 2022, according to Kantar. The category has been seeing a lot of innovation amid debates on chemical versus mineral formulations, clean ingredients, product texture and sensation, marine ecosystem impacts, and differing ingredient regulations across markets.
The suncare market is booming, but more discerning customers are looking for alternatives to traditional chemical formulas and products that feel unpleasant on the skin. Brands are responding.
“The integration of Kao’s renowned scientific and technological resources into our operations is an unparalleled opportunity that will significantly contribute to the exponential growth of our brand, empowering us to further expand our product offerings and advance our research and development initiatives,” said Wilson, co-founder and CEO of Bondi Sands. “With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission.”
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
More from this author:
Gender-neutral fashion has a sizing problem
