Shiseido Americas has completed the sale of bareMinerals, BUXOM, and Laura Mercier to AI Beauty Holdings Ltd., a company formed by Advent International. The sale was first announced in August. Pascal Houdayer, the former Chief Executive of NAOS (Bioderma, Esthederm, Etat Pur) will serve as CEO, (or Social Architect as he calls himself) of the standalone business, which will operate under a newly created business arm, Orveon. The creation of Orveon marks the start of a new collective of premium and prestige beauty brands.

Selling the three brands is consistent with Shiseido’s “WIN 2023 and Beyond” strategy to prioritize its investments, categories and regions that best support its portfolio’s competitive positioning and global growth, Shiseido said in a statement Monday afternoon

Recognizing the diverse range of consumers being served in the beauty and wellness market, Orveon is on a quest for a more inclusive, sustainable, and united community in which deliberate action fosters fair and positive change.