Australian self-tanning juggernaut Bondi Sands has been sold to a Japanese beauty giant in a deal rumoured to be worth $450 million.
Japan Exchange Group-listed Kao Corporation owns a number of global luxury beauty brands such as Oribe, Bioré, Laurier, Molton Brown and more.
Wilson, who serves as CEO and co-founder, will remain at the helm of the company under the new owners, while James will continue in his role as creative director.
It is hoped Kao Corporation will provide avenues for further growth, with Wilson calling the deal an “unparalleled opportunity”.
“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.
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Bondi Sands products are now available across the US and Britain in Boots chemists and Tesco.
It wasn’t always such a smooth road for the company, however.
Bondi Sands famously had to recall its first batch of self-tan because it turned customers green.
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