American Exchange Group has acquired 14-year-old clean skin care brand Indie Lee. The deal is expected to expand the brand beyond skin care via in-house expansions and licensing agreements. It also comes amid heightened challenges for indie beauty brand businesses, many of which have closed in the last two years.
Indie Lee's Clean Beauty Growth History
The brand first took investment in 2017 from Ancora Holdings and made its name by taking inspiration from founder Indie Lee's focus on COSMOS, Prop 65 and EU compliance.
It now retails at more than 2,000 locations, primarily in North America, including Bluemercury and Ulta Beauty.
American Exchange Group's beauty and personal care portfolio includes NatureWell, Orlando Pita Play, Txtur and Found Active, some via its HatchCollective acquisition.
What's Next for Indie Lee Post-Acquisition?
“We are thrilled to join forces with American Exchange Group, a company that shares our commitment to innovation and excellence," says Indie Lee, founder of Indie Lee. "This partnership will enable us to reach new heights and bring our clean, effective beauty products to a wider audience."
“Beauty and personal care are among the fastest-growing categories, and with this acquisition, AXNY Group is poised to become a dominant leader in the space," says Alen Mamrout, CEO of American Exchange Group. "We see a tremendous opportunity to develop Indie Lee’s direct-to-consumer business by leveraging American Exchange Group’s expertise and resources. We plan to expand Indie Lee products beyond skin care, both in-house and via licensing, and explore diffusion brands through licensing and brand expansion.”
“This move not only represents a strategic opportunity for expanded growth but also aims to introduce Indie Lee’s internationally recognized product lines to AXNY Group’s well-established retailer portfolio," says Steve Velasquez, chief strategy officer at American Exchange Group. "Our continued strategy of growth through acquisition allows us to diversify our offerings and strengthen our position across various market segments."
