Cosmetics owner is continuing its acquisition spree with the completion of Beauty Labs buyout
The owner of consumer skin care brand Biossance, Amyris, has completed its takeover of cosmetics technology company Beauty Labs.
First announced in April, the buy-out will see Amyris integrate the AI firm’s colour matching technology and skin care assessment features into its brand DTC websites.
Sites expected to benefit from the new technology are Rose Inc, the debut beauty brand of Rosie Huntington-Whiteley, with others expected to follow.
The move by the ‘clean’ beauty leader follows a spree of acquisitions, as it continues to improve the consumer experience for its brand portfolio.
Last month, the business completed its takeover of Olika, a ‘clean’ wellness brand, and MG Empower, an influencer marketing agency.
“We are delivering the fastest revenue growth of any synthetic biology platform in the world and generate more total revenue than the aggregate of our immediate peers,” said Amyris’ Chief Executive John Melo.
“We are advancing our leadership position by deepening the relationship with consumers to enable us to deliver more value while increasing our share of wallet through our direct-to-consumer business.
“Influencers are increasingly becoming the direct sellers of product through their platforms and we want to lead this transition with data science.”
He continued: “We are already benefiting from these strategic moves and are on track to deliver our best quarter in consumer revenue by far.”
While Amyris has been focused on expanding its business, the company has also been busy shedding its portfolio.
Earlier this year, the firm sold its flavours and fragrance business to Royal DSM, a science-backed company in the nutritional space, for a US$150m price tag.
As part of the deal, DSM will obtain Amyris’ seven intermediate products to add to its Personal Care & Aroma Ingredients line-up.