IEVA Group Acquires Second Retail Chain
PARIS — IEVA Group, the connected beauty company linking wellbeing, personalized solutions and the environment, has acquired its second retail chain.
One year after purchasing Atelier du Sourcil, France’s number-one retailer focused on eyebrows, IEVA Group has acquired Boudoir du Regard, the second player in the country.
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Terms of the deal were not disclosed.
IEVA Group has taken over Boudoir du Regard after the company filed a request for a restructuring procedure at the commercial court of Nanterre, a suburb of Paris.
“As part of this procedure, the financial and operational support provided by IEVA Group should help the company rebalance its financial position and have the resources it needs to deploy its new strategic plan under the aegis of IEVA Group,” the company said in a statement released Tuesday.
“The COVID-19 crisis and the various rounds of store closures ended up weakening the Boudoir de Regard and its 20 or so points of sale,” said Florence Temim, president and founder of Boudoir du Regard, in the statement. “The arrival of IEVA Group helps put our company back on the path to financial stability.”
“With L’Atelier du Sourcil and now Le Boudoir du Regard, IEVA Group will strengthen its leadership in the eye care beauty market, which is so important for the well-being of our clients,” said Jean Michel Karam, chairman and founder of IEVA Group.
IEVA aims to disrupt the personalized beauty model while remaining in sync with Karam’s quest to enhance human life. The brand has connected jewelry, introduced in January 2019 and commercially deployed in May and June 2020, that measures environmental stressors and physical activity.
That is linked to a mobile app offering preventative and personalized beauty recommendations based on the environmental information and diagnostic results. App users get made-to-measure tips, and IEVA also has a monthly subscription service, among other features.
FOR MORE, SEE:
EXCLUSIVE: IEVA Group Raises 12 Million Euros, Acquires Retail Chain
Ieva in Exclusive Negotiations to Acquire Atelier du Sourcil
EXCLUSIVE: Ieva Raises 2.5 Million Euros in Funding
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