Yahoo Finance Millie Bobby Brown Acquires Majority Stake in Florence by Mills
Millie Bobby Brown has purchased a majority stake in her Gen Z cosmetic and skin-care brand Florence by Mills. Beach House Group, the brand incubator that helped develop and launch the line, has sold a majority of its equity stake to the Brown family. Beach House Group is now a minority shareholder, according to the brand.
“I feel really fortunate to have been able to realize my dream of creating a beauty and skin-care brand for my generation that represents so many things that are important to me,” the 16-year-old English actress said in a statement. “I have learned so much this past year, and I’m forever grateful for the support I have been provided in order to explore, develop and establish Florence by Mills as a desirable brand. I look forward to this next phase of evolving the Florence by Mills brand globally in new and unique ways.”
More from WWD
Brown launched the cruelty-free and vegan brand, named after her great-grandmother, in the summer of 2019 in partnership with Beach House Group (the company behind Kendall Jenner’s Moon Oral Care deal and Tracee Ellis Ross’ own hair-care brand, Pattern Beauty). While focused on e-commerce and social media marketing, Florence by Mills is available at retailers Ulta Beauty, Boots, Douglas, Asos, Nocibé, Beauty Bay and Look Fantastic.
“We loved being partners with Millie in the first phase of her vision for Florence by Mills, which focused on beauty,” said Beach House Group’s chief executive officer PJ Brice. “We are so proud of what Florence has achieved in its first 18 months. There is no doubt that the brand will continue to prosper and expand, especially with Millie’s vision to build Florence into a brand beyond beauty.”
Brown has plans to grow the brand with Paula Pontes, Florence by Mills’ ceo as of March 2020. For her part, the executive said: “It has been a privilege to lead Florence by Mills during the last nine months alongside Beach House Group and their team of beauty visionaries, who laid out such a strong foundation for the brand. I am equally excited for this transition to join Millie and her family in this next, exciting building phase in which we will strive to elevate and cement our beauty footprint while also expanding into other categories that our Gen Z consumers are asking for us to deliver.”
Sign up for WWD's Newsletter. For the latest news, follow us on Twitter, Facebook, and Instagram.
