JVN Hair, the hair care line founded in partnership with celebrity hair stylist and television personality Jonathan Van Ness is the latest of now-bankrupt Amyris’ brands to be sold at auction.
According to documents seen by The Business of Beauty, it was purchased by the consumer investment firm Windsong Global on December 13 for $1.25 million.
Founded in 2021, JVN Hair has a range of masstige, gender-neutral products with “free-from” claims that were supposed to chime with consumer concerns, and is stocked in the likes of Sephora and Space NK.
After filing for Chapter 11 bankruptcy in August, Amyris commenced selling off its consumer brands individually in an auction held by the bankruptcy court of Delaware.
Amyris’ most lucrative brand Biossance sold for $20 million to British e-commerce company THG on November 30. Pipette, MenoLabs and 4U By Tia also found buyers.
Windsong Global makes private equity, venture capital and intellectual property investments. Unlike the prior sales of other Amyris brands, the filing includes a stipulation that Windsong Global does not presently intend to include any of JVN Hair’s executory contracts or unexpired leases as part of the assets acquired in the deal, which could mean the company only seeks to acquire the JVN Hair’s intellectual property.
Learn more:
Amyris’ Bankruptcy Proceedings Show Significant Drop in Consumer Revenue
The biofuels-turned-beauty company saw consumer brand net sales fall from $175.5 million in 2022 to $59 million as of June 2023.
