Belle Brands Acquires Versed To Expand Beauty Platform

Windsong Global-backed Belle Brands has acquired mass-market clean skincare and makeup brand Versed, adding it to a growing portfolio that includes JVN Hair, Pipette and KVD Beauty as it tests whether a different kind of beauty holding company can succeed where earlier ones have struggled.

Terms of the deal weren’t disclosed. Formed in 2024 after Windsong Global acquired JVN Hair and Pipette out of Amyris’ bankruptcy, Belle Brands takes over established beauty brands it aims to strengthen through operational improvements, renewed investment and marketing focus. Industry sources estimate Versed generated about $20 million in topline sales last year, down significantly from the prior year. Versed CEO Andy Chiu, who led the brand through the transaction, will support its transition to Belle Brands.

Belle Brands global president Teresa Lo believes building a beauty holding company requires a balance between aggressive backend consolidation and a light-touch approach to brand identity. When evaluating acquisitions, she asks three questions: Does the brand have standout products? Does it have a strong community? And does it fit culturally within Belle Brands?

Speaking about Versed, Lo says, “It is very important for us that, on the outside, the brand remains what it is. We’re not here to change any of that. We acquired the brand because that is what they are best at, so our job is to continue leaning into that, shepherding that and giving it more resources.”

Before Belle Brands, Lo gained firsthand experience with the complications of managing brands within a beauty platform. She held leadership roles at JVN Hair and Biossance when they were owned by Amyris, which grew rapidly through brand incubation and acquisitions before filing for bankruptcy after failing to achieve profitability.

Launched in 2019, when it entered Target, Versed was developed by Offspring Beauty, a brand incubator partially funded by Katherine Power’s media platform Who What Wear. Two years later, Power introduced Merit, a higher-end brand available at Sephora estimated to have crossed $200 million in retail sales. It hired Goldman Sachs in 2024 to explore options, according to reporting by Women’s Wear Daily.

Versed sells more than 35 skincare, makeup and body care products, all priced under $20. Among its most popular products are the Day Dissolve Cleansing Balm, Good Defense Daily Sunscreen SPF 50 and Skin Solution Multi-Serum Skin Tint SPF 40. Although the brand initially concentrated on skincare, it made a statement in makeup last year with the February release of the Skin Solution complexion line, including the Multi-Serum Skin Tint SPF 40 and Serum Concealer.

Today, Versed is in 1,834 Target doors with makeup and 1,174 with skincare. Its other retailers include Revolve, Amazon and Ulta Beauty, where it landed last year and is stocked at more than 330 stores. Versed is in a relatively soft makeup category, which was the slowest grower across beauty categories in the second quarter, according to market research firm Circana, but mass-market makeup outperformed prestige makeup, with a 5% jump versus a 2% increase. The category’s muted growth has contributed to a cautious acquisition environment for makeup brands, with several prominent assets still seeking buyers.

The challenge for Belle Brands now lies in integration. Shared services often make sense on paper, but capturing enough efficiencies without sacrificing distinct brand identities can be difficult. Rather than consolidating marketing or product development, the company is sharing backend functions such as logistics, manufacturing and supply chain.

“The way that we think about shared services is really more on the backend,” says Lo. “Operations, logistics, 3PL, contract manufacturer contracts, the unsexy stuff.”

For Versed, the plan isn’t a drastic structural overhaul, but to double down on its strongest products. “We’re not here to reinvent the wheel,” says Lo. “If there are products that are top performers that are beloved and that are clear heroes, we’re not here to change that. We want to lean into that in an even bigger way.” 

Belle Brands continues to look for brands to acquire, and Lo tells Beauty Independent more deals are on the horizon. Last year, William Sweedler, founder, chairman and CEO of Windsong, pegged around $25 million in annual sales as the ideal size for acquisition targets.

Belle Brands isn’t Sweedler’s first attempt at creating a multi-brand platform. As co-founder and managing partner of Tengram Capital Partners, he helped assemble HRB Brands, a portfolio of mass-market beauty and personal care brands including Alberto VO5, Zest, Coast, Brut and White Rain. HRB Brands was sold to Sodalis Group in 2024.