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Nudestix, known for its multi-tasking complexion products, announced on Friday that it had been acquired by a US-based private firm. Details about the transaction, including the new parent company, were not disclosed.
The partnership will provide operational and marketing support to the company, which was founded in 2014 by mother and daughter Taylor and Jenny Frankel, both of whom will remain in their current roles.
“From this strategic partnership we’re getting the operational expertise, infrastructure, and resources to continue growing,” the co-founders told The Business of Beauty.
The brand is “laser-focussed” on driving sales across its Ulta Beauty footprint, said co-founder Jenny Frankel in a statement, but is sold in a wide swath of retailers, including Sephora, Macy’s, Amazon, TikTok Shop, Cult Beauty, Lookfantastic and its own direct-to-consumer site. Its products are sold in 30 countries, including the UK, EU and the Middle East. The founders told BoF they’re also prioritising key distribution and strategic exclusive partnerships with Shoppers Drug Mart in Canada and Sephora in Mexico, Brazil, the Middle East and Southeast Asia.
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An accompanying release acknowledged recent “operational shifts” that saw Nudestix limit its marketing and inventory buys, but that the acquisition signals a new path to growth. A person with knowledge of the brand’s finances estimated annual revenue at around $30 million, and multiple sources characterised the business as distressed prior to the sale.
Nudestix found early success with its cult Nudies cream blush sticks, which remain its hero products and contribute 40 to 50 percent of overall sales, alongside cosmetics for lips and eyes. It launched sub-brands Nudeskin in 2020 and Nudebody in 2023, with Sofia Richie Grainge fronting the latter.
The brand received a minority investment from private equity firm Alliance Consumer Growth in 2015, an unusually long 10-year hold for the firm, and additional funding from the actors Hilary Duff and Chelsea Handler in 2019.
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