BLC Cosmetics has been announced as the exclusive distributor of Priori Skincare in Australia and New Zealand as beauty clinic operator and brand incubator Wellness And Beauty Solutions looks to find a buyer for the company’s assets.
First listed on the Australian Stock Exchange in early 2016, Wellness And Beauty Solutions has failed to beat the battle against the effects of COVID-19 announcing they have fallen into voluntary administration, as reported by stockhead.com.au. The news comes after the group failed to lodge its quarterly report and just two days after the expiration of the JobKeeper extension leaving stockholders unsure about the future of the company.
Previously known as Total Face Group and run by Melbourne businessman, Paul Fielding, it acquired Giving Brands Company in 2018 expanding its consumer division with brands like JBronze, Elle Beauty and Organic Nation. Also within the consumer division is Immersion Clinical Spa, a medi-spa with nine locations across Queensland, New South Wales and Victoria.
Sitting alongside Giving Brands Company, the group’s luxury division, True Solutions is home to big name industry brands like Omnilux, Aesthetics Rx and formerly Priori Skincare until its recent acquisition by BLC. Despite seeing success in 2019 with retail distribution deals and the signing of major influencers, the government mandated lockdowns have proven detrimental as many of the Immersion Clinical Spa locations were forced to close.
It is unclear what the future holds for the group as administrators try to avoid liquidation. The announcement that BLC Cosmetics, a multi-brand importer and distributer, has welcomed Priori Skincare to its portfolio could signal the sale of other brands in Wellness and Beauty Solution’s True Solutions and Giving Brands Company portfolios.
True Solutions were unavailable for comment at the time of publication.
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