BIC: ACQUISITION OF INKBOX, THE LEADING BRAND OF HIGH QUALITY
SEMI-PERMANENT TATTOOS
ACQUISITION OF
INKBOX, THE
LEADING BRAND OF
HIGH QUALITY
SEMI-PERMANENT
TATTOOS
Acquisition
will make BIC
a leader in
the
"Do-It-Yourself"
Skin
Creative industry
A fast-growing digitally
native brand with
outstanding growth track record
27 million USD (24 million euros1) Net Sales in 2021, doubled in
size over the last two years
Robust Direct-To-Consumer (DTC) Business Model with strong brand
awareness and unique partnerships with famous artists and
influencers
0.8 million active customers2, mostly Generation Z female with a
strong interest in self-expression
Over 60% Gross Profit Margin, driven by in-house, made-to-order
manufacturing
A landmark acquisition for the Human Expression
division, and a further step in BIC's transformation into a
fast-moving consumer-centric
company
Adds to BIC's growing portfolio of vibrant and innovative
brands
Reinforces BIC's e-commerce omnichannel capabilities by adding a
leading DTC brand to our existing digital platform eco-system
A transaction consistent with
BIC's
Horizon plan use of cash
policy
65 million USD (57 million euros1) upfront payment with a
deferred consideration based on Inkbox's future Net Sales and
profitability growth
"Consumers today crave newness, desire creative freedom, and
embody authenticity. Inkbox's visionary founders, brothers Tyler
and Braden Handley, have created a way to address the young
generation's desire for fluid self-expression. Unlocking the body
as a canvas, they have built a highly successful business that sets
the standard for the semi-permanent tattoo market." said
Gonzalve Bich, BIC's Chief Executive
Officer. "For BIC, Inkbox's acquisition is a
further step in our Do-It-Yourself Skin Creative strategy. It
provides a unique opportunity to grow our Human Expression division
at a much more significant scale and lead the emerging fast-growing
Do-It-Yourself Skin Creative market. I am thrilled to welcome
Inkbox's intensely creative and entrepreneurial team as part of the
BIC community and look forward to working with Tyler and Braden to
build the next chapter of Inkbox and BIC's successful journey
together."
"Today's youth embrace freedom of expression to an extent not
seen before. Our tattoos enable them to style their look with 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."
Clichy, France – 18
January 2022 – BIC announces today that it has signed an
agreement to acquire 100% of the outstanding shares of Inkbox, a
leading direct-to-consumer semi-permanent tattoo company
headquartered in Toronto, Canada. The transaction is structured
with an upfront payment of 65 million USD (57 million euros) and a
deferred consideration based on Inkbox's future sales and
profitability growth. The acquisition is contingent upon fulfilling
certain customary conditions. The closing is expected before the
end of Q1 2022.
A LANDMARK ACQUISITION FOR THE
HUMAN
EXPRESSION
DIVISION, AND A FURTHER STEP
IN BIC'S TRANSFORMATION INTO A
FAST-MOVING
CONSUMER-CENTRIC
cOMPANY
For the last 75 years, BIC® has met consumer needs and desires
with high quality, simple, and affordable products and has become
one of the most recognized global consumer goods brands. With the
launch of its Horizon plan in 2020, BIC evolved its Stationery
Business to "Human Expression," going beyond traditional writing
instruments into Creative and Digital Expression to meet changing
consumer demand and accelerate growth.
As consumer attitudes shift towards self-expression,
individuality, and creativity, the acquisition of Inkbox will
expand BIC's offerings in the Do-It-Yourself Skin Creative
category, which already includes BIC BodyMark, the temporary tattoo
marker. Following on from the successful integration of Rocketbook,
the smart reusable notebook brand acquired in November 2020, Inkbox
further enhances BIC's existing portfolio of recognized consumer
products, where different brands address diverse types of consumer
groups. With its unique ability to customize, Inkbox further
strengthens BIC's DTC business and reinforces existing digital and
social media engagement capabilities.
This acquisition will elevate BIC to a leadership position in
the Do-It-Yourself Skin Creative industry. This fast-growing
category is powered by the increasing desire of young consumers to
be more fluid with their appearance and express themselves by using
their bodies as a changeable canvas. In the US today, more than 20%
of the 13 to 45 years old consumers are either buyers or interested
in buying Do-It-Yourself Skin Creative products3. Driven by the
increasing frequency of purchase and product innovation, the
category4 is expected to exceed 1.5 billion USD in 2031, exhibiting
growth at 13%+ CAGR.
Inkbox: A
FAST-GROWING DIGITALLY NATIVE
COMPANY WITH A ROBUST BUSINESS
MODEL AND BRAND
PROPOSITION
Created in 2015 by Tyler and Braden Handley, Inkbox doubled its
size over the last two years and reached 27 million USD (24 million
euros) sales in 2021. Shipping hundreds of thousands of tattoos a
week to more 80 than countries, with 67% of sales in North America,
Inkbox had a Gross Profit margin exceeding 60% in 2021, and
management expects to be EBITDA positive in 2024.
The 0.8 million active customers5 are primarily Generation Z
females willing to showcase their uniqueness with interest in
Fashion, Beauty, and Travel. Through Inkbox, these consumers can
create their own designs or choose from a wide range of exclusive
tattoos created by artists. In 2021, a freehand tattoo marker was
added to the product range, allowing consumers to draw their
tattoos directly on their skin or help a friend. As Inkbox
continues to innovate, an online subscription service will be
launched in 2022.
Inkbox supports an increasing community of tattoo artists and
develops limited-edition drops in collaboration with celebrity
artists and brand partners. They partner with social media
influencers to amplify brand awareness and increase consumer
engagement. The most recent collaborations include an officially
licensed collection by popular K-Pop Group BTS, and new creative
collaborations with the Estate of Jean-Michel Basquiat and the
"InstaPoet" Rupi Kaur. Their successful DTC model builds on a
robust social media engagement strategy. Inkbox has 1.5 million
followers on Instagram and is ranked the 12th largest beauty brand
on TikTok.
Inkbox's success is driven by a unique and sustainable
consumer-centric model. The high-quality semi-permanent tattoos are
designed and manufactured on-demand, in-house. Easy to apply, they
last one-to-two weeks and use a patented, natural plant-based ink
formula. BIC is the ideal partner to help the company achieve its
full scale-up potential, through accelerated international
development, primarily in Europe and Latin America, extended online
presence through different e-commerce platforms and the potential
expansion into retail distribution. The joining of companies will
provide new options for consumers, from those looking to test out
permanent tattoo designs, to a new image of message for a night
out.
Inkbox will continue to run as an independent subsidiary of BIC,
allowing its team to preserve its unique and creative culture.
* *
*
Contact
Sophie
Palliez-Capian VP, Corporate Stakeholder Engagement +33 1
45 19 55 28 + 33 87 89
3351 Sophie.palliez@bicworld.com |
Albane de La Tour
d’ArtaiseSenior Manager, Institutional Press
Relations + 33 1 45 19 51 51 + 33 7 85 88 19
48 Albane.DeLaTourDArtaise@bicworld.com |
Michèle
Ventura Senior Manager, Investor Relations + 33 1 45
19 52 98 Michele.ventura@bicworld.com |
Isabelle de
SegonzacImage 7 + 33 6 89 87 61
39 isegonzac@image7.fr |
Forward-looking Statement
This document contains certain forward-looking statements
concerning SOCIETE BIC and Inkbox. Such forward-looking statements
represent trends or objectives and cannot be construed as
constituting forecasts regarding the future SOCIETE BIC's results
or any other performance indicator. Forward-looking statements in
this document include but are not limited to financial projections
and estimates and their underlying assumptions. Although BIC
believes its expectations are based on reasonable assumptions,
investors are cautioned that these forward-looking statements are
subject to numerous various risks, whether known or unknown and
uncertainties and other factors, including currency fluctuations,
which may be beyond BIC's control and could cause actual results to
differ materially from those anticipated in these forward-looking
statements. A description of the risks borne by BIC appears in the
section "Risks" in BIC's 2020 Universal Registration Document filed
with the French financial markets authority (AMF) on April 01,
2021. Any information relating to past performance contained herein
is not a guarantee of future performance. Nothing herein should be
construed as an investment recommendation.
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 Cello®, BIC FlexTM, Lucky
Stationery, Us. TM,
Soleil®, Tipp-Ex®, Wite-Out®, Djeep, Rocketbook 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 about.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 its 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 catalog 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
press@getinkbox.com, or visit inkbox.com/pages/our-story.
1 14 January 2022 ECB EURO/USD rate: 1.14472 Last 24 months3 BIC
BodyMark Post-Launch Test – US, JUL 2020 (Ipsos)4 Temporary tattoo
markers and decals, henna tattoos and semi-permanent self apply
tattoos. Exclude permanent tattoos – BIC Internal Estimates.5 Last
24 months
- BIC_Acquisition of Inkbox_18JAN22
Societe BIC (EU:BB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Societe BIC (EU:BB)
Historical Stock Chart
From Jul 2023 to Jul 2024