Omari Gates
Sukin is an Australian skincare brand that was founded in 2007. The company is committed to being carbon neutral and only using natural ingredients. Sukin was initially acquired by BWX in 2015, but in January 2024, it was sold to PNB Consolidated for $70 million. The brand is manufactured and operated in Melbourne, Australia, and can be found in major retail outlets across the country.
| Characteristics | Values |
|---|---|
| Current Owner | PNB Consolidated |
| Previous Owner | BWX |
| Year of Acquisition | 2024 |
| Acquisition Amount | AUD$70 million |
| Manufacturing Facility Location | Melbourne, Australia |
| Year of Inception | 2007 |
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What You'll Learn
- Sukin is Australian-made and locally manufactured in Melbourne
- Sukin was sold to PNB Consolidated for AUD$70 million in January 2024
- Sukin was previously owned by BWX, which collapsed in April 2023
- Sukin is committed to being carbon neutral and uses sustainable palm oil
- Sukin has a prominent retail presence in Australia, including Coles and Woolworths
Sukin is Australian-made and locally manufactured in Melbourne
Sukin is an Australian-made and locally manufactured skincare brand based in Melbourne. The company was established in 2007 and has since been at the forefront of the health and wellness movement, catering to consumers' needs for cleaner, more natural, and sustainable skincare products.
Sukin takes pride in manufacturing all its natural products locally, and its commitment to sustainability is further demonstrated through its partnership with Greening Australia. This partnership, established in 2018, facilitated the company's goal of becoming carbon neutral through Biodiverse Carbon Conservation (BCC).
In January 2024, Sukin was acquired by PNB Consolidated, led by former Beautiworkx (BWX) CEO John Humble, for an estimated AUD$70 million (US$46.9 million). The sale included Sukin's manufacturing facility and assets, which were previously owned and managed by BWX.
Despite the change in ownership, Sukin remains an Australian-made brand with local manufacturing in Melbourne. This acquisition is expected to be a turning point for the skincare brand, ensuring its continued presence in the market and providing a platform for future growth and success.
With its Australian ownership and manufacturing, Sukin showcases its dedication to providing natural and sustainable skincare options for its consumers, contributing to the health and wellness movement in the region and beyond.
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Sukin was sold to PNB Consolidated for AUD$70 million in January 2024
Sukin is an Australian skincare brand that manufactures its products in Melbourne, Australia. The company was previously owned by BWX, a developer, manufacturer, distributor, and marketer of branded products in the natural beauty and personal care market. BWX owned and operated several brands, including Flora & Fauna, Mineral Fusion, Andalou, and Sukin.
In January 2024, Sukin was sold to PNB Consolidated for AUD$70 million (US$46.9 million). PNB Consolidated is led by former BWX CEO John Humble. The sale included Sukin and its new manufacturing facility in Clayton. This acquisition is expected to be a turning point for the skincare brand, which faced an uncertain future after BWX collapsed financially in April 2023.
The deal between PNB Consolidated and BWX saw the transfer of ownership and control of the Sukin brand and its manufacturing operations. PNB Consolidated is an investment vehicle with experience in the manufacturing and distribution of health and wellness brands. Their expertise and resources are expected to provide the ideal platform for Sukin to flourish in the market.
The sale of Sukin was completed by the receivers of BWX, who had been managing the company's day-to-day operations since it fell into voluntary administration in 2023. The financial collapse of BWX was attributed to mounting losses and struggling subsidiaries. The sale attracted interest from both local and international parties, with PNB Consolidated ultimately acquiring the brand and its assets.
This acquisition by PNB Consolidated ensures the continuation of the Sukin brand and its presence in the market. With PNB Consolidated's strong pedigree in the health and wellness space, there are expectations for Sukin's growth and success in the years to come. The deal also highlights the value and potential of the natural skincare market, with Sukin being a well-known and established brand in this sector.
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Sukin was previously owned by BWX, which collapsed in April 2023
Sukin is an Australian skincare brand manufactured in Melbourne, Australia. It was previously owned by BWX, which collapsed in April 2023. BWX had acquired Sukin in 2015, and the brand had a prominent presence in major Australian retail outlets such as Coles, Woolworths, Priceline, and Chemist Warehouse.
BWX's collapse came after a period of financial woes and mounting losses. In January 2023, BWX slashed its expectations for full-year revenue and earnings figures after second-quarter sales revenue came in significantly below internal targets. This announcement led BWX to cut revenue expectations from $205-230 million to $170-190 million, following FY22 statutory losses of $335.6 million. By the first half of FY23, BWX's losses had blown out to $100 million, leading to the immediate departure of CEO Rory Gration.
In April 2023, BWX entered voluntary administration, appointing KPMG Australia as the receiver. The company's receivers put Sukin and other brands under the BWX umbrella up for sale. In January 2024, it was announced that PNB Consolidated, led by former BWX CEO John Humble, had acquired Sukin for an estimated AUD$70 million (US$46.9 million). This acquisition included the Victorian-based manufacturing facility and associated assets and operations.
The sale of Sukin to PNB Consolidated was seen as a positive outcome, with KPMG Australia's Restructuring Services Partner, David Hardy, expressing satisfaction and confidence in PNB Consolidated's ability to provide the ideal platform for Sukin to thrive in the years to come.
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Sukin is committed to being carbon neutral and uses sustainable palm oil
Sukin is an Australian-owned skincare brand that entered the market in 2007. The company is committed to creating natural, affordable skincare products that are safe for humans and the environment. In 2008, Sukin became carbon neutral by offsetting all the carbon emissions produced by the company. This includes emissions from product transportation, manufacturing, and office electricity usage. Over the last decade, Sukin has invested in several certified projects that support renewable energy and carbon reduction. For example, they have invested in wind energy projects in China and a solar farm in India, offsetting over 45,000 tonnes of carbon.
Sukin is also committed to using sustainable palm oil in its products. Typical palm oil production is associated with deforestation, habitat loss, and human rights abuses. However, Sukin chooses to use sustainable palm oil, ensuring that their products do not contribute to these issues. As a completely cruelty-free and vegan brand, Sukin does not use any animal derivatives or by-products in its products. The company also designs its packaging with sustainability in mind, using 100% recyclable PET plastic for most full-size products and ensuring that all packaging is BPA-free.
Sukin's brand values are centred around making natural products accessible to everyone without compromising on safety or affordability. The company constantly evolves its processes to minimise any negative impact on the environment. Sukin is dedicated to providing skincare that doesn't cost the earth, both in terms of price and environmental impact. Their commitment to sustainability and ethical practices has made them a trusted brand for conscious consumers.
Sukin's commitment to carbon neutrality and sustainable palm oil usage demonstrates their dedication to environmental responsibility and their efforts to minimise their carbon footprint. By investing in renewable energy projects and choosing sustainable alternatives, Sukin sets a positive example for the skincare industry and contributes to a greener future. Their carbon offset initiatives and sustainable ingredient choices reflect a holistic approach to sustainability, ensuring that their products are kind to both the planet and their customers.
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Sukin has a prominent retail presence in Australia, including Coles and Woolworths
Sukin is an Australian skincare brand that was founded in 2007. The company manufactures its products locally in Melbourne, Australia, and has a strong commitment to sustainability and natural ingredients. Sukin's products are widely available in Australia, with a prominent retail presence in major outlets such as Coles and Woolworths. The brand can also be found in other popular stores like Priceline and Chemist Warehouse. This extensive retail presence has contributed to its success and popularity among Australian consumers.
Sukin has established itself as a trusted and recognisable brand in the Australian market by securing shelf space in these well-known retailers. Coles and Woolworths, in particular, are two of the largest supermarket chains in Australia, offering a wide range of grocery and household items, including personal care products. By partnering with these retailers, Sukin ensures that its products are easily accessible to a vast customer base across the country.
The availability of Sukin products in Coles and Woolworths supermarkets caters to the diverse needs of Australian shoppers. These supermarkets often offer extended operating hours, convenient locations, and a one-stop-shop experience. As a result, customers can effortlessly incorporate Sukin's skincare offerings into their regular grocery trips, making the brand a convenient and accessible choice for many.
In addition to its physical retail presence, Sukin may also leverage the online shopping platforms of these major retailers. Coles and Woolworths both offer online stores with home delivery and click-and-collect options, further expanding the reach of Sukin's products. This omnichannel approach enhances the brand's visibility and enables customers to shop for their favourite Sukin items from the comfort of their homes.
The prominent retail presence of Sukin in Australia, including Coles and Woolworths, underscores the brand's popularity and accessibility. By partnering with these major retailers, Sukin ensures that its natural and sustainable skincare offerings are within easy reach for consumers nationwide, contributing to its success and recognition in the highly competitive personal care market.
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Frequently asked questions
Sukin was previously owned by BWX, an Australian company, but in January 2024, it was sold to PNB Consolidated for AUD$70 million (US$46.9 million).
PNB Consolidated is a company that has a strong presence in the manufacturing and distribution of health and wellness brands.
BWX collapsed in April 2023, and the Sukin brand faced an uncertain future. The sale to PNB Consolidated was seen as a turning point for Sukin, ensuring the brand's survival and continued high-end manufacturing operations.
Yes, Sukin products continue to be manufactured locally in Melbourne, Australia, even after the change in ownership.
