Do It Yourself (DIY) Skin Creative market on track to exceed $1.5 billion within 10 years
SHELTON, Conn. and TORONTO, Jan. 18, 2022 /CNW/ -- As consumer attitudes shift towards valuing personal expression, individuality and creativity, BIC is expanding its focus on human expression through the acquisition of Inkbox. The direct-to-consumer, semi-permanent tattoo brand empowers customers with the ultimate tools for self-expression. With the DIY Skin Creative market expected to reach $1.5 billion in value by 2031, the acquisition of Inkbox will elevate BIC to a leadership position in the fast-growing skin creative industry.
"Consumers today crave newness, desire creative freedom and embody authenticity," said BIC CEO Gonzalve Bich. "Inkbox's temporary tattoos and markers empower individuals to be their continually-evolving, fluid selves. The acquisition of Inkbox will expand BIC's offerings in the DIY skin creative category which includes BodyMark by BIC, bringing more innovative and high-quality tools to individuals who are not afraid to showcase who they truly are."
BIC will acquire 100% of Inkbox for $65 million. The addition of Inkbox will broaden BIC's human expression portfolio, which includes temporary tattoo markers BodyMark by BIC. Inkbox's digital expertise will further strengthen BIC's direct-to-consumer, e-commerce capabilities.
Inkbox was founded in 2015 by brothers Tyler and Braden Handley. The company is based in Toronto, Canada.
"Today's youth embrace freedom of expression to an extent not seen before. Our tattoos enable them to match their look to their ever-evolving identity. We're excited that an internationally recognized brand like BIC understands this and believes in our ethos of supporting and celebrating identity," said Tyler Handley, co-founder and CEO of Inkbox. "Beyond our shared commitment to creative expression, BIC is the ideal partner to help Inkbox achieve its full scale-up potential, notably through accelerated international expansion and operational efficiencies."
Inkbox's semi-permanent tattoos are easy to apply, they can last up to one-to-two weeks and use a patented, plant-based ink formula derived from skin-safe ingredients. All the products are designed and manufactured on-demand, in-house. Individuals can create customized designs or choose from more than 10,000 artist-designed tattoos. Inkbox develops limited edition drops in collaboration with celebrity artists and brand partners, including an officially licensed collection by BTS and new creative collaborations with the Estate of Jean-Michel Basquiat, poet Rupi Kaur and more to be announced soon.
Inkbox is a fast-growing recognized brand with approximately $27 million in net sales in 2021. The transaction is structured with an upfront payment of $65 million and a deferred consideration based on Inkbox's future performance.
About BIC: A world leader in stationery, lighters and shavers, BIC brings simplicity and joy to everyday life. For more than 75 years, the Company has honored the tradition of providing high-quality, affordable, essential products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands and is a trademark registered worldwide. Today, BIC products are sold in more than 160 countries around the world and feature iconic brands such as BIC Kids™, BIC FlexTM, BodyMark by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Soleil®, Tipp-Ex®, Us. TM, Wite-Out® and more. In 2020, BIC Net Sales were 1,627.9 million euros. The Company is listed on "Euronext Paris," is part of the SBF120 and CAC Mid 60 indexes and is recognized for its commitment to sustainable development and education. It received an A- Leadership score from CDP. For more, visit www.bic.com or follow us on LinkedIn, Instagram, Twitter, or YouTube.
About Inkbox: Inkbox creates beautifully produced, artist-designed, impermanent tattoos that last 1-2 weeks, fading as the skin naturally regenerates. Since inception in 2015, millions of people from more than 150 countries around the world have worn Inkbox tattoos as style accessories to express their identity, and test drive permanent tattoo ideas before going all in.
With a growing catalogue of more than 10,000 designs, the Freehand Tattoo Marker, and a Custom tattoo platform used to bring any idea to life, Inkbox now ships tens of thousands of tattoos every week. It has also come to be an important avenue of creative expression for many of today's most respected tattoo artists, who now count on it as a way to build their brand and supplement their income.
Collaborations with contemporary artists like BTS, Post Malone, Keith Haring, and Rupi Kaur have looked to the body as a canvas, creating a new promotional category of "skin merch." Headquartered in downtown Toronto, where it operates the permanent tattoo studio Inside Out, Inkbox now employs 150+ people across Canada, Japan, and the United States. For media inquiries, please email [email protected], or visit inkbox.com/our-story.
SOURCE BIC Corporation