Acquisition of L’Occitane Group 83% of the capital of the American beauty brand Sol de Janeiro, Based on an estimated $ 450 million.
Founded in 2015 by current CEO Heila Yangal, Sol de Janeiro reached net sales of about $ 60 million in 2020 through its own website and sales by high quality retailers around the world.
After Heila Yang discovered Brazil with her Japanese-Brazilian husband, Heila Yang was inspired by the way Brazilian women love their bodies, while at the same time being very confident about themselves. He has created very sensible products with a very strong scent and colorful packaging. The brand’s first product, The Brazilian Bum Bum Cream, Became Sephora’s best-selling skin care cream a few months after its introduction in the United States.
Heila Yang considers L’Occitane to be optimized to accelerate the brand’s growth trajectory, while acquiring R&D capabilities and strengthening its environmental responsibilities.
L’Occitane has announced that it wants to protect the vision of the brand and its team. Thus Heila Yang will continue as CEO of the company. However, the team wants to take advantage of its international presence to build the brand in new markets. ” Sol de Janeiro has tremendous growth potential in many markets and channels around the world. And, André Hoffmann, Vice President and General Manager, L’Occitane, commented.
Sol de Janeiro was previously supported by Preload Growth Partners, a private equity fund that has been operating as a sole proprietorship since mid-2019.