Self-tanner and skincare brand Bondi Sands has been sold to Japanese chemical and cosmetics giant Kao Corporation in a $450 million deal.
Kao, established in 1887, owns popular skincare and haircare brands such as Biore, Jergens, Oribe, and KMS.
Shaun Wilson, CEO and co-founder of Bondi Sands, will remain with the company under new owner, and Blair James will continue as creative director.
The manufacturing of the company’s products will remain in Melbourne.
The integration of Kao’s scientific and technological resources is “an unparalleled opportunity” to grow the brand, Wilson told The Australian Financial Review.
“With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission,” he said.
Founded in 2012, Bondi Sands currently has a 55 per cent self-tan market share in Australia, and its suncare range, which was released in 2017, is also growing rapidly.
The brand is now available in more than 95 countries, with products stocked in more than 40,000 stores worldwide. It posted sales of $105.8 million in FY22 and expects to achieve over $190 million in total revenue for 2023.
