Synthetic biotechnology company, Amyris, Inc., is acquiring EcoFabulous Cosmetics (EcoFabulous). The move to acquire the Gen Z-focused beauty brand comes as the growing demographic is gravitating toward brands that offer clean, natural and sustainable products.
“I am passionate about building beauty products that deliver real performance for the beauty consumer and make no compromise with respect to clean ingredients and packaging because there is no planet B,” said Marissa Shipman, founder of EcoFabulous.
Shipman founded EcoFabulous with the idea of offering high-performance, makeup artist-quality beauty products that are both clean and sustainable while still being appropriately priced for Gen Z consumers. Prior to EcoFabulous, Shipman founded Balm cosmetics.
“EcoFabulous is my latest brand innovation and I am looking forward to partnering with the Amyris team to accelerate our growth. I see an exciting future leveraging the opportunities that Amyris’s depth in sustainable ingredients brings to our brand.”
Amyris is said to be taking a 70 percent stake in the company, enabling the firm to focus on the clean beauty brand’s best interest. Through Amyris’s science and technology, sustainable ingredients, clean formulation and direct-to-consumer marketing expertise, both Amyris and EcoFabulous intend on expanding their reach to the Gen Z segment even further.
“We are very excited to be adding a Gen Z-focused offering to our portfolio,” said John Melo, president and chief executive of Amyris. “Marissa’s track record of beauty brand innovation speaks for itself and she has done an incredible job building a well-positioned cosmetics brand in EcoFabulous.”
“Our brands are powered by our leading science and ingredients portfolio that deliver the best performing products in clean beauty and make our planet healthier. We have invested approximately $12 million in acquiring and developing new brands this year, mostly funded with Amyris equity. The new brands are estimated to represent 20% of consumer revenue this year. Our direct-to-consumer sales continues to experience excellent growth and we are now experiencing better than pre-COVID sales growth with our retail store partners,” Melo added.
Shipman will join Amyris to lead brand innovation and take on the role as chief creative officer at EcoFabulous.