A major beauty company that owns half of Zoe Foster-Blake’s skincare business has taken another hit with Elsa Pataky’s beauty brand, in which it also has a major stake, which is now collapsing.
Named after the popular NSW holiday hotspot, Purely Byron offers a range of skincare products with “clinically proven actives and formulas” inspired by the “raw beauty” of the area.
The company, co-founded by Pataky and backed by her Hollywood superstar husband Chris Hemsworth, filed for bankruptcy on Friday.
Purely Byron is 47.4 percent owned by BWX brands, while Hemsworth’s Byron Bay 1st Management owns a 3.2 percent stake. Directors Ido Leffler and Lance Kalish each own about 22 percent.
Purely Byron’s struggles are the latest to plague BWX, which bills itself as a “house of natural brands at the forefront of the global natural beauty and wellness movement.”
The collapse of a skincare company co-founded by Elsa Pataky and backed by her Hollywood superstar husband Chris Hemsworth has left customers wondering if they can still order their products
Backed by mining magnate Andrew Forrest, BWX also takes care of other popular beauty brands such as Foster Blake’s Go-To skincare line 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, BWX and DW Advisory have been contacted for comment.
DW Advisory’s Cameron Gray and Justin Holzman were appointed as trustees of Purely Byron on Friday.
“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.
Zoe Foster-Blake’s Go-To Skincare business (pictured with husband Hamish Blake) is owned by BWX. BWX owns a 47 percent interest in Purely Byron
Despite Pataky’s repeated exposure of the high-end brand to her 5.4 million followers, her actual current role within the company — or its possible future sale — remains unclear.
Elsa Pataky has never been appointed as director of Purely Byron and all arrangements Elsa Pataky has with Purely Byron are strictly confidential.
While Purely Byron has yet to publicly address the administration, the website has mysteriously placed the words “coming soon” under each of their products.
Other items appear to be for sale, including the Glowing Ritual Set, but the website does not allow them to be purchased.
Purely Byron has shared two Instagram posts since going into administration, which were soon inundated with customers asking for answers if the business was still up and running.
Purely Byron, co-founded by Elsa Pataky, went into administration last Friday
Two days ago, the company shared a video with tips on how to use the Native Sunrise Blend Eye Complex eye cream.
And on Tuesday, Purely Byron shared a photo from the home of Emma Lane, who owns cult venue The Farm in Byron Bay.
While you don’t need a magazine-worthy bathroom to enjoy the sensory element of your Purely Byron rituals, it certainly can’t hurt. We can’t get enough co-founder of @thefarmbyronbay, Emma Lane’s warm and inviting space,” the caption read.
But the post has met with confusion among some customers.
‘As you are now in administration, can we still order products or not? Was hoping to pick up a few items this week,” one wrote.
‘Can we still order?’ said another.
The same post was shared on Purely Byron’s Facebook account, and customers were once again asking if they could still pick up their skincare products.
While Purely Byron has not yet addressed the administration publicly, their website has the message “coming soon” under each of their products
“Please, please, please tell me I can still buy the products!!! I absolutely LOVE Purely Byron and don’t want to have to switch products,” said one customer.
Purely Byron was co-founded by Pataky, a Byron Bay native and Spanish-born actress who lives in the popular holiday destination with her husband and 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.
On the Purely Byron website, Pataky said she first got the idea for a skincare brand in 2019, but her plans were put on hold during the Covid lockdowns.
In 2021, the team began testing products and devising a strategy for their launch, with the actress becoming the face of the Byron-born brand.
In June 2022, Purely Byron launched his Divine Ritual Collection online, which was soon followed by his Native Sunrise Blend collection.
‘I was introduced to some of the native plant products grown locally in Byron and I was really intrigued,’ says Pataky on the website.
‘I learned that some of them may be clinically proven to bring about change on the skin. An idea for a locally made skin care line was born.’