THE WHAT? Ushopal has acquired Argentum Apothecary for an undisclosed sum, according to a report published by WWD. The Chinese firm’s buyout of the British clean beauty brand follows on from a financing round in which Ushopal led back in late 2021.
THE DETAILS Ushopal specializes in scaling brands targeted at the all-important Gen Z demographic and is credited with contributing to Argentum’s rapid rise in popularity in China, generating sales of US$50 million annually. Argentum Founder & CEO Joy Isaacs is set to remain at the helm of the clean beauty brand.
THE WHY? Ushopal is said to be building its portfolio with a view to becoming China’s leading luxury beauty conglomerate. For Argentum, the appeal is continued growth, as Isaacs attests, “We have always had a strong connection with China, and we’ve seen incredible brand growth in the past few years. As one of the leading brand management groups in China, we believe the forge of this partnership will shape the future of Argentum in Asia and the world.”
The post Ushopal acquires Argentum Apothecary appeared first on Global Cosmetics News.