Temporary tattoos: Bic turns to “skin creative” market with US$65M Inkbox acquisition
18 Jan 2022 --- Société Bic S.A. (Bic) is acquiring semi-permanent tattoo company Inkbox for US$65 million to strengthen its position in the growing “skin creative” industry. Inkbox’s attitude of the body as a canvas will lead to a new category in Bic: “skin merch.”
The France-based manufacturer can now tap into the DIY skin creative market category, expected to surpass US$1.5 billion in 2031 with a compound annual growth rate of 13%.
Inkbox’s 800,000 customers mainly consist of female Gen Z’ers. In general, more than 20% of 13-45-year-old US customers already buy or are interested in DIY skin creative products, finds Bic.
Bic observes that consumer attitudes are shifting toward self-expression, individuality and creativity. This explains Bic’s shift in focus toward the skin creative market.
With tattoos becoming mainstream, Manik Skincare states that more than a third of US adults between 18 and 25 have at least one tattoo.
Acquisition targets full scale-up potential
Gonzalve Bich, Bic CEO, says: “Consumers today crave newness, desire creative freedom and embody authenticity,” and Inkbox’s temporary tattoos and markets can allow individuals to express their “continually-evolving, fluid selves.”
The acquisition allows Bic to grow by offering new products of higher quality in its DIY skin creative category, which already includes Temporary Tattoo Markers.
The business move is advantageous for Bic’s direct-to-consumer and e-commerce potential.
Moreover, Tyler Handley, co-founder and CEO of Inkbox, says Bic is Inkbox’s “ideal partner to help…achieve its full scale-up potential”. He alludes to accelerated “international expansion and operational efficiencies.”
Bic products are sold in more than 160 countries, and people from over 150 countries have worn Inkbox tattoos.
Inkbox’s patented semi-permanent formula
Bic has now signed an agreement to acquire 100% of Inkbox’s outstanding shares.
Inkbox will become an independent subsidiary of Bic, allowing its team to uphold its own creative culture.
Bic’s acquisition comes when the EU places a ban, and the UK restricts tattoo inks. Therefore, semi-permanent tattoos with skin-safe ink from Inkbox eliminate the potential dangers of permanent inks.
Since Inkbox is a company specialized only in semi-permanent tattoos, it offers a variety of products such as the Artist Kit, Tattoo Marker, Marker Duo and Accessories.
Inkbox’s ink is a patented plant-based formula that lasts one to two weeks.
Its services include Picked For You and a Tattoo Quiz to inspire ideas. This includes more than 10,000 designs. Its TraceApp allows customers to build customized designs.
Inkbox also holds an international reputation, collaborating with celebrities like BTS, poet Rupi Kaur, and collaborations with the Estate of Jean-Michel Basquiat.
Edited by Venya Patel
