Rhyz Inc. Acquires Skincare and Beauty Device Company BeautyBio
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.
