LVMH buys 70 percent controlling stake in Nude Skincare

French luxury brand owner LVMH Moet Hennessy Louis Vuitton has bought a 70 percent stake in UK-based luxury naturals brand Nude Skincare.

The deal, which is for an undisclosed sum, will see the skin care company’s current shareholders retain a 30 per cent equity ownership in Nude Brands Ltd, the registered owner of the Nude Skincare brand.

“The partnership with LVMH will allow us to achieve so much more for Natural Skincare than we ever could alone,” said Bryan Meehan, who is a co-founder of the brand with Ali Newson, the wife of rock star Bono.

The 30 percent stake in the brand not being bought out by LVMH will be retained by Newson, Meehan and Paddy McKillen, who has been a longtime business partner in the project.

Premium natural skin care

Meehan and Newson established the brand as a line for the natural and organic London-based health store chain Fresh & Wild, giving way to a premium-priced range of skin care formulated with natural ingredients and produced according to ethical values.

The skin care line is formulated using bioavailable ingredients such hyaluronic acids and peptides, and includes an advanced cellular renewal serum, cleansers, moisturisers and masks as well as products targeting the eye area.

“Their resources and knowledge will be incredible assets for us and my team can’t wait to get started,” Meehan added, while also underlining the fact that LVMH’s acquisition of smaller luxury fragrance and cosmetics brands in recent years has helped drive further growth.

The Nude Skincare range is already sold through LMVH’s retail arm Sephora in the US, which is expected to be developed as one of the brand’s primary distribution outlet.s

LVMH takes the helm

Nude Skincare will continue to be based in London and will be headed up by Meehan as executive chairman and Ahha Ghee as general manager. Hugues Dusseaux, president of LVMH perfumes and cosmetics will represent LVMH’s interests in the development of the business in a similar way to responsibilities he holds for the Benefit and Make-Up For Ever brands.

LVMH’s 70 per cent stake gives it full control of the day-to-day running of the business and the group says that it will add staff to the business in line with the growth it is expected to achieve.

LVMH has been growing its footprint in the luxury fragrance and cosmetics segment in recent years through a series of acquisitions and investments that earlier this month included the acquisition of US spa skin care line Ole Henriksen – a brand with a similar profile to that of Nude Skincare.