Foundry acquires direct-to-consumer men’s personal care brand Blu Atlas
13 Jul 2023 --- Online brand specialist Foundry has acquired Blu Atlas, their third men’s personal care brand with a substantial skin care, hair care and fragrance portfolio. The financial details of the acquisition have not been disclosed.
“We believe Blu Atlas has the potential to reach US$100 million in sales over the coming years by increasing distribution, building greater awareness and continuing to offer a premium and differentiated product assortment,” says Hendre Ackermann, CEO at Foundry.
Foundry’s portfolio of disruptive brands also includes Supply, a men’s premium razor brand, Stryx, a men’s cosmetics brand and Craft & Kin, a home fragrance brand.
Men’s care on the move
The acquisition is timely as men’s care is a rapidly growing industry. Foundry continues solidifying its position as a brand platform and e-commerce expert with customized products.
“I was driven to start Blu Atlas when I couldn’t find clean and effective men’s skin care that worked. So, I worked with a team to create a line of powerful and effective products that people quickly fell in love with,” says Deep Patel, founder at Blu Atlas.
Since launching in 2022, Blu Atlas has experienced explosive growth and has been described as “The Best Men’s Skincare Brand” by Men’s Journal, “The King of Grooming Products” by Rolling Stone, and the “clear winner” vs. Estée Lauder’s Le Labo and L’Oréal’s Kiehl’s by WWD and US Weekly.
Foundry makes its third acquisition in the male personal care segment.
Natural alignment
While men’s skin care and grooming is a rising trend in the beauty segment, it has not yet reached its full market potential, only cornering about 1% of sales in a US$511 billion industry, according to data gathered by Innova Market Insights.
“Blu Atlas has successfully cracked the code by offering high-quality products crafted from natural ingredients, accompanied by great fragrances and appealing packaging. This acquisition aligns with our mission of enriching people’s lives,” Matt Rhodes, co-founder and CFO at Foundry, concludes.
Meanwhile, women are more likely than men to see diet as crucial to skin health, according to research from Lycored. It also highlights how men and women have different skin care requirements. The findings revealed that 39% of women, compared to 30% of men, think consuming a healthy diet is the most crucial factor in maintaining the health of their skin.
Edited by Inga de Jong
