PROVO,
Utah, Aug. 1, 2023 /PRNewswire/ -- Rhyz Inc., a
subsidiary of Nu Skin Enterprises Inc. (NYSE: NUS), today announced
the acquisition of BeautyBio, a clean and clinically proven
skincare and beauty device brand. Rhyz adds this omnichannel beauty
brand to its existing synergistic ecosystem of consumer, technology
and manufacturing companies focused on innovation within the
beauty, wellness and lifestyle categories.
Founded by Jamie O'Banion in
2011, BeautyBio combines efficacious, award-winning skincare with
patented beauty tools that work synergistically to offer pro-grade
results from home. BeautyBio will continue to operate independently
as an omnichannel brand, headed by O'Banion, and will leverage
opportunities for growth and cost efficiencies as part of the Rhyz
ecosystem.
"BeautyBio's commitment to beauty through
innovation aligns with our vision for personalized,
science-based skincare products and beauty device systems," said
Ryan Napierski, president and CEO of
Nu Skin Enterprises. "BeautyBio's unique device IP in hydration
facial and micro-needling technology will further strengthen Nu
Skin's position as the world's best-selling beauty device systems
brand.* For BeautyBio, our unique expertise in devices,
manufacturing and technology will help this business reach its
potential as part of the Rhyz ecosystem."
BeautyBio offers a range of award-winning skincare products and
beauty devices, including the patented GLOfacial Pore Cleansing
Tool, GloPRO® At Home Microneedling Tool and performance skincare
products. The company is dedicated to sourcing clean, effective
ingredients that are clinically formulated with proven results.
"We couldn't be more excited to be a part of Rhyz and the Nu
Skin Enterprises family," said Jamie
O'Banion, founder, president and CEO of BeautyBio. "As we
look for new opportunities to empower our existing and future
communities around the world in a deeper and more meaningful way,
this partnership will enable us to further accelerate our mission
of enhancing lives through clean, performance-based skincare
solutions for a limitless, healthy future."
About Rhyz
Rhyz Inc. is the strategic investment arm
of Nu Skin Enterprises Inc. (NYSE: NUS). Formed in 2018, Rhyz is a
synergistic ecosystem of consumer, technology and manufacturing
companies focused on innovation within the beauty, wellness and
lifestyle categories.
About BeautyBio
BeautyBio is a rapidly growing beauty
brand that has reached broad scale omni-channel distribution in
global retail partners such as Sephora, Ulta, Harrods and
Mecca. BeautyBio is committed to
empowering people with clean, clinical-grade skincare from home. As
a brand rooted in science, transparency and education, BeautyBio's
core mission is to provide consumers with enhanced outcomes through
the combination of performance beauty tools and clinically tested
formulas to deliver healthy, glowing skin. For more information,
visit beautybio.com.
*Source Euromonitor International Limited; Retail Value RSP
terms; all channels; 2017 to 2022. Beauty Systems are at-home Skin
Care Beauty Devices that are exclusively paired or recommended to
be used with a topical consumable of the same brand. Claim
verification based on Euromonitor custom research and methodology
conducted April -June of 2023. Sales of at-home skin care beauty
devices includes sales of electric facial cleansers as defined in
Passport database. This category does not include hair care/removal
appliances, body shavers, and oral care appliances.
Important Information Regarding Forward-Looking
Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other
than statements of historical fact are "forward-looking statements"
for purposes of federal and state securities laws and include, but
are not limited to, statements of management's expectations
regarding plans for operating BeautyBio independently, BeautyBio's
growth and cost efficiencies, and benefits of the BeautyBio
acquisition. In some cases, you can identify these statements by
forward-looking words such as "will," "believe," "expect,"
"anticipate," "continue," "would," "could," "may," "might," the
negative of these words and other similar words.
The forward-looking statements and related assumptions
involve risks and uncertainties that could cause actual results and
outcomes to differ materially from any forward-looking statements
or views expressed herein. These risks and uncertainties include,
but are not limited to, adverse publicity related to the company's
business, products or industry; changing customer preferences;
risks related to inventory management and sales forecasting;
unpredictable economic conditions and events globally; and
competitive pressures.
The company's financial performance and the forward-looking
statements contained herein are further qualified by a detailed
discussion of associated risks set forth in the documents filed by
Nu Skin Enterprises with the Securities and Exchange Commission.
The forward-looking statements set forth the company's beliefs as
of the date that such information was first provided, and the
company assumes no duty to update the forward-looking statements
contained in this release to reflect any change except as required
by law.
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SOURCE Rhyz Inc.