EXCLUSIVE: Nameless CPG Snaps Up Wander Beauty
Updated 4:19 p.m. ET Feb. 12
Nameless CPG is branching beyond personal care and into beauty — and has kicked off its efforts with an acquisition.
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Wander Beauty, the brand launched by Lindsay Ellingson and Divya Gugnani in 2015, has been acquired by the owner of Hilo, Wile Women, Awkward Essentials, Nakey and Ladybird Provisions.
Terms of the deal were not disclosed, though it is the largest acquisition Nameless has done to date. Both Ellingson and Gugnani are staying on with the brand, with the latter helping Nameless identify potential acquisition targets as it looks to stake its claim on beauty.
Gugnani declined to comment on the brand’s sales but did say, “We’re growing, we’re profitable and we’re in two of the biggest sectors in beauty,” pointing to its hero Baggage Claim eye masks as the top seller.
The brand derives its name from its value proposition, which is meant for minimalist and travel-friendly essentials. “The average woman spends 15 minutes on her beauty routine. The entire industry has been so focused on telling you to buy more and do more, and we’re catering to the average woman,” Gugnani said. “She’s time-starved, she’s on the go and our brand resonates with her.”
The lion’s share of the business comes from its website and Amazon, with other retail partners including Nordstrom and Macy’s.
“We have to scale our two biggest channels. We’ve found that our customer really buys us on d-to-c and Amazon and that’s where we’ve seen growth and profitability,” Gugnani said of the post-acquisition plans. “We’re going to double down on those two areas.”
Via email, cofounders Kate Herling and Albert Swantner said, “Wander Beauty represents exactly what we look for in an acquisition: a brand with strong fundamentals, passionate customers and significant growth potential. Their focus on essential, multitasking products that customers consistently repurchase sets them apart in the crowded beauty space. We’re excited to work with Divya and the talented Wander Beauty team to accelerate the brand’s growth while maintaining its authentic connection with customers.”
In addition to cofounding Wander, Gugnani has founded Sephora-exclusive fragrance brand 5Sens and cofounded venture capital fund Concept to Co.
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