Kao Corp. has signed an agreement to acquire Australian sun care brand Bondi Sands.
Sun care is a beauty category in high demand — and growing swiftly — today, due in part to global warming.
“Growing consumer awareness of skin cancer and other sun-related health problems is expected to drive value and volume growth for all sun care categories in the forecast period,” said Brando Coleman, research analyst at Euromonitor. “Their high-quality, distinctive formulations combined with sustainable practices have gained a loyal consumer base,” Kao said in a statement released Tuesday. “In Australia, where sun care awareness is extremely high, Bondi Sands has a leading share of the self tanning-market, enabling consumers to achieve a beautiful, healthy tan without the damaging effects of the sun.”
“Bondi Sands is an incredible brand and a perfect fit for the Kao Consumer Care Business portfolio,” said Karen Frank, president of Consumer Care Business, Americas and EMEA, in the statement.
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