Credo Beauty has acquired Follain, a Boston-based retail brand and competitor in 'clean' beauty, for an undisclosed sum.
The acquisition will see Credo absorb Follain's online retail business and storefront in its Beacon Hill, Boston location, as well as the Follain-branded skin care line, which will become part of Credo's owned brand portfolio, which includes make-up brand Exa and mineral sunscreen collection EleVen by Venus Williams.
Both retailers were early players in the 'clean' beauty movement, and the acquisition, Credo's first, marks a step towards consolidation in the increasingly competitive space, which has seen retailers including Sephora and Walmart climb on board.
Founded in 2014, Credo went on to develop The Credo Clean Standard, which the retailer defines as 'the nexus of safety, sourcing, sustainability, and ethics, with a throughline of transparency'. The Follain acquisition supports Credo's goal towards creating a single standard for brands and consumers.
Commenting that the move is “an important step forward for Credo and the clean category,” Credo's CEO Stuart Millar added: “Solidifying Credo's clean beauty leadership position allows us to scale our impact in a meaningful way, and we are excited to continue to advocate for change in a highly under-regulated industry.”