Melbourne born company Bondi Sands, known for its self tan range, has sold to Japanese chemical and beauty company Kao Corporation in a multi million dollar deal.
Popular self tan and skincare company Bondi Sands has sold to trillion dollar Japanese chemical and beauty company Kao Corporation.
The deal saw the Japanese beauty company acquire Bondi Sands for a rumoured $450 million.
Bondi Sands will join Kao Corporation’s huge range of brands from cleaning products to health and beauty care. The 136 year old company owns a wealth of domestic Japanese brands and a collection of global ones including John Frieda, Bioré, and Molton Brown among others.
Bondi Sands was launched in 2012 by Melbourne based business partners Blair James and Shaun Wilson. The self tan, suncare, and skincare brand exploded in popularity in recent years, and is now available across 95 countries. AFR reports that Bondi Sands has grown from $50 million in sales in fiscal 2019 to $105.8 million in the 2022 fiscal year. Profits in that time jumped from $6.2 million to $8.7 million. The company has a host of celebrity ambassadors on board and an ongoing partnership with The Australian Open to promote its sunscreen range, and it maintains a huge following across all its social media platforms.
Karen Frank, Kao’s president of its consumer care business in the Americas and EMEA, said: “The addition of Bondi Sands to our consumer family of brands will greatly advance our mission to be the preeminent leader in the global skin protection business and continue our journey of offering diverse products that promote a Kirei lifestyle that is healthy, inclusive and sustainable for all.”
Under the deal, co-founders Shaun Wilson and Blair James will continue in their roles as CEO and Creative Director respectively.
“With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission,” said Wilson.
As another condition of the deal, Bondi Sands manufacturing will remain in Melbourne.