Grupo Boticário has just acquired Dr. Jones, the men’s beauty brand whose flagship is the razor blade sold in a signature model.
The value of the transaction was not revealed, but O Boticário bought 100% of the startup, which closed last year with a run rate of R$ 10 million.
Dr. Jones operates on a D2C model, selling its products primarily over the internet. The portfolio comprises 20 different SKUs, including a shampoo, a facial exfoliating gel, a shaving foam and ‘Abdoburn’, an abdominal fat-reducing gel that promises to help a man achieve the perfect six-pack.
There are more than 150 thousand registered customers, of which 80 thousand are active customers (they have made at least one purchase in the last 30 days).
Dr. Jones was founded in 2013 by Guilherme Campos and André Popoutchi. The business model was inspired by US companies such as Dollar Shave Club, which sold for $1 billion to Unilever in 2016, and Harry’s.
The transaction exits all funds that had invested in Dr. Jones in recent years: Astella Investimentos, Igah Ventures, Norte Ventures and IgniteXL.
The transaction was 100% in cash.
For O Boticário, the purchase of Dr. Jones marks the group’s first investment in an independent brand since he purchased Vuit Cosmetics in 2018. Dr. Jones will strengthen O Boticário’s male products portfolio, which already has a significant relevance in the group.
O Boticário owns, for example, Malbec, one of the best-selling fragrances in Brazil.
Under the terms of the agreement, Guilherme and André will continue as Boticário executives at the helm of the business for a few more years.
Under the Boticário umbrella, the brand will be able to take advantage of the group’s various distribution channels, ranging from physical stores to direct sales, ecommerce Beauty on the Web to the Beauty Box.
These new avenues should drive significant brand growth.
Negotiations for the sale of the business began a year ago, but the relationship between the two companies has been going on for a long time. Dr. Jones started out inside Beauty Box, before migrating to its direct selling (D2C) model.