StriVectin's products will become part of Crown Laboratories' range of new Premium Skincare Division following the brand's acquisition. The transaction is expected to close by mid-September after Crown Laboratories entered into a definitive agreement with L Catterton to acquire StriVectin.
StriVectin is known for redefining science-based skincare products. The Premium Skincare Division will operate as a subsidiary of Crown Laboratories. Jeff Bedard, CEO of Crown Laboratories, expresses that "the addition of StriVectin to Crown's portfolio enriches our focus on partnering with our customers throughout their lifetime skin health journey." Crown's existing skincare portfolio includes Crown Aesthetics, an FDA-approved micro-needling device, PanOxyl acne wash, Sarna topical anti-itch brand, Vita Liberata sunless tanners, and Blue Lizard sunscreen.
Image Credit: StriVectin
Why This Trend Is Growing
- Premium Skincare Consolidation
- Consolidation of companies in the premium skincare industry to form larger and more comprehensive product offerings.
- Science-based Skincare
- A greater emphasis on science-based skincare products and ingredients to meet consumer demand.
- Lifetime Skin Health Journey
- Expansion of product offerings and services to address consumer skin health concerns throughout their lifetime.
Industries Being Reshaped
- Skincare Manufacturing
- Manufacturing companies specializing in premium skincare products could increase their product offerings and market share through acquisitions.
- Beauty Retail
- Beauty retailers can offer a more diverse and science-based product selection with the consolidation of premium skincare companies.
- Medspas and Dermatology Clinics
- MedSpas and dermatology clinics can offer an expanded range of potent and innovative skincare services and products.
