L'Oréal, the French beauty giant, announced it has signed an agreement to acquire the California-based skincare company Youth to the People. Founded in Los Angeles in 2015 by cousins Greg Gonzalez and Joe Cloyes, the brand is known for its high-performance skincare products that utilize plant extracts and innovative active ingredients. The financial terms of the deal were not disclosed, and the acquisition is subject to standard regulatory approvals and other customary conditions.
Youth to the People has experienced significant growth since its inception, with a reported sales figure of over USD 50 million in 2021. The brand's products are available in the US, Canada, Australia, and select European countries, where they enjoy strong appeal. Marketed through an omnichannel distribution strategy, the brand combines direct-to-consumer e-commerce with selective distribution.
Cyril Chapuy, President of L'Oréal Luxe, expressed his enthusiasm for the acquisition, stating that Youth to the People's skincare expertise, healthy vegan formulas, and core values make it a strategic addition to L'Oréal Luxe. The brand's commitment to amplifying diverse voices, building a fairer world, and enhancing consciousness of the planet aligns with L'Oréal's own values.
Joe Cloyes, Founder & CEO, and Greg Gonzalez, Founder & CBO, of Youth to the People, shared their excitement about joining the L'Oréal family, as it provides them with the opportunity to realize all the dreams of their brand. Their mission is to create high-performance skincare using vegan ingredients with practices that are good for both the planet and the people. This partnership will allow them to amplify their shared values of investing in a just and sustainable future for all.
Stéphane Rinderknech, President North America & Chief Executive Officer L'Oréal USA, also expressed his belief in the potential of Youth to the People and his excitement for the brand to join L'Oréal's growing portfolio of American brands on the West Coast. The acquisition will enable Youth to the People to expand and eventually become a global brand, sharing its unique approach to skincare with the world.
