THE WHAT Millie Bobbi Brown has acquired a majority stake in her Gen Z consumer brand Florence by Mills, with plans to evolve the company past beauty.
THE DETAILS The actress purchased the stake from brand incubator Beach House Group, which assisted in the development and launch of the brand last year, with the company said to now be a minority shareholder.
Bobbi Brown said of the buy-out, “I have learned so much this past year, and I’m forever grateful for the support I have been provided in order to explore, develop and establish Florence by Mills as a desirable brand. I look forward to this next phase of evolving the Florence by Mills brand globally in new and unique ways.”
THE WHY Bobbi Brown is working with CEO Paula Pontes on ways in which to develop the brand further, with a focus on a Gen Z audience.
Pontes stated, “It has been a privilege to lead Florence by Mills during the last nine months alongside Beach House Group and their team of beauty visionaries, who laid out such a strong foundation for the brand. I am equally excited for this transition to join Millie and her family in this next, exciting building phase in which we will strive to elevate and cement our beauty footprint while also expanding into other categories that our Gen Z consumers are asking for us to deliver.”