Elsa Pataky’s Purely Byron skincare company may be bought by Aussie botox brand Cosmetique
A botox company has revealed it hopes to become Elsa Pataky’s knight in shining armor after the failed skincare line she founded went into administration despite the support of her Hollywood superstar husband.
Purely Byron sold a range of skin care products inspired by the ‘raw beauty’ of the northern NSW beach town and featuring ‘clinically proven actives and formulas’.
It was co-founded by Pataky, with BWX Brands holding a 47.4 percent stake and her husband Chris Hemsworth’s Byron Bay 1st Management holding 3.2 percent.
The company filed for bankruptcy on March 10, leaving customers wondering when and if they’d be able to order more items for their daily skincare routine.
Dr. Vivek Eranki, the CEO of Cosmetique, has now expressed interest in acquiring Purely Byron after it collapsed less than a year after its official launch.
The skincare company co-founded by Elsa Pataky (pictured with husband Chris Hemsworth) Purely Byron has gone into administration
Cosmetique started in Perth in 2017 and now has 20 locations in Australia.
It specializes in injectables such as botox and fillers, as well as laser hair removal.
Dr. Eranki said the company was now looking to expand into skincare, with the majority of its customers being women between the ages of 18 and 35.
“The vast majority of our customers have some kind of skin care routine and from a commercial standpoint we don’t have a footprint in this space at the moment,” he told Daily Mail Australia.
He said celebrity endorsements have always been helpful to brands, but they only worked if the product itself was right.
“Purely Byron’s underlying product is what attracted us. If we add a celebrity to that, it will encourage us even more and help with the marketing side and the dissemination of information about the product,” he said.
‘But the underlying product must work well.’
The CEO said Purely appealed to Byron Cosmetique because it used Australian ingredients and sustainable materials.
Purely Byron sold a range of skin care products inspired by the ‘raw beauty’ of the northern NSW town and featuring ‘clinically proven actives and formulas’. On March 10, the company went bankrupt
“Their brand ethos matches ours and one of our key requirements was that we not use any offshore ingredients,” said Dr Eranki.
Purely Byron released a statement on Wednesday after its social media pages were flooded with comments from confused customers.
The company’s statement came five days after it went into administration and encouraged customers to be patient as it was “in the process of restructuring.”
“We hope that the products will be available again soon for you to purchase,” the company said.
Under the post, many customers expressed disappointment at the company’s collapse and heaped praise on the skincare line.
Dr. Vivek Eranki, the CEO of Cosmetique, has now expressed interest in acquiring Purely Byron
Dr. Eranki said that when a company goes out of business, there are usually reviews and comments from many dissatisfied customers.
“While here the customers are still very eager to order,” he said.
Dr. Eranki believed the brand’s demise may have been due to issues faced by their shareholders.
The collapse of Purely Byron is the latest blow to BWX, which has interests in popular beauty brands such as Zoe Foster-Blake’s Go-To Skincare and Sukin.
Foster-Blake sold 51.5 percent of her company to BWX for $89 million in 2021 and was expected to sell her remaining share to the same company for a similar amount.
However, the value of her share was written off by $30 million in December after BWX posted a staggering $336 million loss during fiscal year 2021-22.
BWX revealed last month that it bled another $100 million in the first half of its current fiscal year with the resignation of the company’s CEO, Rory Gration.
The company’s latest woes are again expected to significantly reduce the value of Foster-Blake’s 48.5 percent stake in Go-To, with BWX retaining the option to buy it out, reports said.
Purely Byron was co-founded by Pataky, a Byron Bay native and Spanish-born actress who lives in the popular holiday destination with Hemsworth and their three young children.
She was unveiled last year as a co-founder of the brand, alongside Jacqueline Rosen Weisz as CEO and Kate Norbiato as brand director.
Directors Ido Leffler and Lance Kalish each own about 22 percent.
On the Purely Byron website, each product has the message ‘coming soon’
Cameron Gray and Justin Holzman of DW Advisory were appointed as trustees of Purely Byron.
“Purely Byron’s business operations are currently suspended while the trustees list Purely Byron’s business and assets for sale,” the pair said in a statement Wednesday.
Despite Pataky’s repeated exposure of the high-end brand to her 5.4 million followers, her actual role within the company – or its possible future sale – is unclear.
Elsa Pataky has never been appointed as director of Purely Byron and all arrangements Elsa Pataky has with Purely Byron are strictly confidential.
The message ‘coming soon’ is currently displayed under Purely Byron’s products.
On Monday, however, the company shared an Instagram story from New Zealand-born influencer Ayse Tezel that revealed a gift box from the brand.
Dr. Eranki said that while it was unclear how much Purely Byron would sell for, Cosmetique’s accounting team had been in touch with the trustees.