Sources: OSEA Said Mulling Deal Options

Another beauty brand is hitting the market, WWD has learned.

Pioneering “clean” skin care brand OSEA has reportedly tapped Raymond James as it explores deal options, according to industry sources.

More from WWD

Both OSEA and Raymond James declined to comment.

Financo, now a part of Raymond James, handled OSEA’s first deal in 2021. The brand landed a minority investment from Cavu Venture Partners, which also holds stakes in skin care brands Nécessaire and Topicals.

Sources pegged the brand’s net sales at around $100 million annually, about an even split between retail and the brand’s website. It is available at Ulta Beauty, in addition to Nordstrom and smaller specialty retailers.

The brand is one of a plethora hitting the M&A market, though the majority fall under makeup. Those are said to include Rare Beauty, Glossier, Merit, Kosas and Jane Iredale, as previously reported.

OSEA, which was founded by mother and daughter Jenefer and Melissa Palmer in 1996, derives its name — an acronym for ocean, sun, earth and atmosphere — from the seaweed blend and other botanicals it incorporates into its products.

At the time of its last deal, the brand said its consumer base was bifurcated between shoppers aged 25 to 34, and those over 55. At the same time, it had filled out its C-suite with the hiring of Erin Cotter as chief marketing officer and Melissa Mao as chief sales officer. It planned to use the investment to ramp up product development and international expansion, as reported.

Among its hero products, its Undaria Algae Body Oil was named one of the greatest skin care products of all time by WWD Beauty Inc in February. Other top sellers include its Anti-Aging Body Balm, Hyaluronic Sea Serum and Collagen Dream Night Cream.

Raymond James is also reportedly handling the evaluation of financial options for the Selena Gomez-founded Rare Beauty jointly with Goldman Sachsto — which range from a outright sale to an IPO — and has worked previously on deals including the sale of Dr. Dennis Gross to Shiseido and K18 to Unilever Prestige.

Best of WWD