Business
Belle Bonica Luxe Corp. / BlockChain Loyalty Corp. Announces Closing of the Acquisition of Clean Beauty Brand True + Luscious
Belle Bonica Luxe Corp. / BlockChain Loyalty Corp. Announces Closing of the Acquisition of Clean Beauty Brand True + Luscious.
About this update from Blockchain Loyalty Corp.
[{"type":"text","content":"PORTLAND, OR and MONTREAL, QC / ACCESSWIRE / October 3, 2023 / Belle Bonica Luxe Corp. / BlockChain Loyalty Corp. (BBLC) is pleased to announce the official closing of the acquisition of True + Luscious a clean beauty brand making waves in the skincare and cosmetics industry. In a previously issued Letter of Intent (LOI) dated May 19th, 2023, BBLC acquired all the assets of True + Luscious, closing the transaction on October 2nd, 2023.This acquisition is an integral part of BBLC's growth plans to increase revenues through geographic expansion and strategic acquisitions of product lines and companies which are compatible with its business philosophy, brand, and strategic corporate path. BBLC is dedicated to promoting a lifestyle of health, beauty, and wealth; through the acquisition and development of creative & innovative brands that cater to various sectors of the luxury markets, aimed at improving the way of life, while seeking long-term shareholder value. In the next couple of weeks BBLC will be making other important announcements that will shape the direction of the company going forward.Mehir Sethi founded one of Pakistan's top clean beauty brands; Luscious Cosmetics, which saw its products on the shelves of Sephora Australia after global goods corporation, LVMH (Louis Vuitton Moet Hennessy) snapped up Singapore based e-commerce brand Luxola.com in the summer of 2015, where Luscious had been regularly selling its products. Sephora became aware of Luscious' success after acquiring Luxola. The management and board are delighted that Ms. Sethi will stay on to assist with True + Luscious, supporting BBLC and its management through the transition and beyond, as a strategic consultant to the company."BBLC's new flagship brand True + Luscious, is an important milestone that the company is pleased to check off it's long list of catalysts. This is just the beginning, and we can't be more thrilled," said Joel DeBellefeuille Chairman & CEO of BBLC.True + Luscious presents a unique opportunity, as the acquisition comes complete with $2,615,000 in existing inventory, and an email list that consists of over 8,000 customers. The brand is a reputable and profitable business in the high growth clean-beauty industry. Ongoing partnerships with the QVC & HSN (Home Shopping Network) and independent retailers also exist.Ab...