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Diving letter:
- As DTC brands seek to tap into new product categories, Public Goods is expanding into the skin care space with the launch of a skincare collection of six products at a cost of less than $ 15, the company confirmed via email to Retail Dive.
- The collection includes a cream cleaner, a vitamin C serum, a clay mask, a moisturizer for the night, an eye cream and a face spray. Ingredients used in the product include kaolin clay, aloe juice, and coconut alkanes, according to the company.
- The company is kicking off the product line with a “Made in Nature” campaign that features real skin alongside natural ingredients used in its products, the announcement said.
Dive Insight:
Public Goods’ entry into skin care follows a major inpatient expansion last year. In a deal with CVS, the drugstore chain Public goods products introduced January 2020 in select stores before expanding to 2,000 CVS locations across the country to appeal to health conscious consumers.
Skin care has been a busy sector in the DTC space. Walmart in July brought the DTC brand Bubble skin care products in 3,800 Walmart stores across the country. At the beginning of this year, the CPG giant Unilever bought DTC skin care brand Paula’s Choice, and Function of beauty acquired atolla, a personalized skin care brand, for an undisclosed amount in August.
As more established brands and retailers have bought digital-native skin care brands, companies in this segment have also raised money to expand their reach. Merit, a DTC beauty brand founded in January, $ 20 million raised under Series A funding and announced that it will sell its products through more than 800 Sephora stores by the end of 2021. In February, the skin care company Heyday Raised $ 20 million in Series B funding and announced plans to expand to “hundreds of stores” over the next five years.
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