Founders Reclaim Go-To Skincare

Reading Time: < 1 minute
By Published On: December 20, 20230 Comments

Co-founders Zoë Foster Blake and Paul Bates have reacquired Go-To Skincare following parent company BWX’s collapse.

Launched in 2014, Go-To Skincare was created by former beauty editor Zoë Foster Blake and co-founder Paul Bates. It boasts a range of “worry free, uncomplicated, effective skincare.”

Quickly gaining a cult following, Zoë Foster Blake sold a majority stake of 50.1 percent in the business for $89 million in 2021 to then thriving beauty and healthcare parent company BWX. 

In April this year, BWX collapsed, owing creditors over $100 million. BWX owned a range of other natural skincare and health brands including Sukin, Andalou Naturals, Mineral Fusion, Nourished Life and vegan and cruelty-free marketplace Flora & Fauna. 

The Go-To Skincare co-founders have now reclaimed ownership of the brand in a deal worth $21.8 million. The pair now own 59.68 percent of the business. 

“This transaction returns control of the company to its founder whose deep and intimate understanding of Go-To will be of significant value to the brand’s future direction,” said Gayle Dickerson, turnaround and restructuring services partner at KPMG Australia.

Just weeks after BWX’s collapse into administration, fellow businesswoman and founder Julie Mathers reacquired her brand Flora & Fauna. Partnering with New Zealand-based online health retailer HealthPost, Mathers purchased the company alongside fellow ethical natural skin care and beauty retailer Nourished Life. Zoë Foster Blake follows suit in this rescue. 

“It is my joy and privilege to give both my full focus and attention [to Go-To],” Zoë Foster Blake told the AFR.

“This is an incredible brand and business, with a deeply passionate team and incredibly loyal and supportive customers.”

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

Share this story!

Leave A Comment

Samuel Wood Podcast