Bondi Sands sold to Japanese beauty giant for $450 million
Australian self-tanning juggernaut Bondi Sands has been sold to a Japanese beauty giant in a deal rumoured to be worth $450 million.
Japan Exchange Group-listed Kao Corporation owns a number of global luxury beauty brands such as Oribe, Bioré, Laurier, Molton Brown and more.
Bondi Sands was launched in 2012 years ago by Melbourne businessmen Blair James and Shaun Wilson and claims to be "the Number 1 self-tan brand globally".
READ MORE: Interest rates kept on hold
Bondi Sands is an Australian brand behind the world's best-selling self-tan. Instagram
Wilson, who serves as CEO and co-founder, will remain at the helm of the company under the new owners, while James will continue in his role as creative director.
It is hoped Kao Corporation will provide avenues for further growth, with Wilson calling the deal an "unparalleled opportunity".
"With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission," he said.
READ MORE: Ex-childcare worker charged with 'unfathomable' abuse
Shaun Wilson and Blair James founded Bondi Sands in 2012. Supplied
Bondi Sands products are stocked in more than 40,000 stores worldwide and will soon be available in Walmart.
It wasn't always such a smooth road for the company, however.
Bondi Sands famously had to recall its first batch of self-tan because it turned customers green.
READ MORE: Zoo forced to deny bears are humans in costume
Sign up here to receive our daily newsletters and breaking news alerts, sent straight to your inbox.
Share a tip-off, video or photo with us
Most viewed in Australia
Unpopular policies could be what’s needed to stop ‘blunt’ rate rises
Dan Anstey to co-host Weekend Today, join Today team as weather presenter
Warning months left for inflation battle ahead of forecast rates rise
A $130 million change was meant to hit your supermarket shelves. Then the government backflipped
