BWX Limited may not ring any bells with the average consumer, but its stable of natural and organic brands and platforms have strong brand recognition among Australian beauty lovers.
We’re talking Sukin, Australia’s #1 natural skincare brand, Andalou Naturals, the #1 skincare brand in America’s natural channel, Mineral Fusion, the #1 natural cosmetic brand in the US, Nourished Life, Australia’s leading online platform for natural beauty, health and home, Flora & Fauna, Australia’s leading e-tailer of vegan, ethical and sustainable products, and Go-To skincare, the cult favourite launched by beauty guru Zoe Foster-Blake.
BWX has reported underlying revenue growth of 26.5 per cent to $106.9 million for the first half of its 2022 financial year. The company made headlines last year with the acquisition of Flora & Fauna in July for close to $30 million, following up quickly by acquiring a controlling 50.1 per cent stake in Go-To skincare in September for $89 million.
Sales in the US were a highlight over the fiscal first half, rising 12 per cent and driven by the leading US brands – Mineral Fusion and Andalou Naturals. According to a company statement, BWX core brands continued their global expansion across key regions and are on track to achieve their respective distribution targets of two million total by the end of FY22.
The Australian/international business of BWX reached sales of $41.3 million during the first half of FY22. The company launched Andalou Naturals in the UK and Go-To debuted its Gro-To babycare range in David Jones and Bloomingdale’s department stores in the US.
North American sales, including Canada, jumped 12 per cent to top $42.4 million, as BWX increased distribution in the food, drug and mass categories.
Following the acquisition of Flora & Fauna, BWX launched a new digital operating division with Nourished Life, posting revenues of $19.6 million during H1 FY22.
January retail performance has maintained the strong momentum seen in the second quarter, which is encouraging, said Rory Gration, in-coming BWX Group CEO and Managing Director.
“While the environment remains uncertain, our strategic priorities are simple and we will continue to execute through the unlocking of acquisition-led and organic brand growth and increasing our points of distribution. Our new Clayton facility is a significant enabler of greater efficiency across operations and financial management, and BWX will keep reinvesting this leverage back into our brands to support longer-term value creation.”