American Exchange acquires clean skincare brand Indie Lee

American Exchange Group (AXNY) has acquired clean beauty brand Indie Lee, as the US investor continues to build its portfolio with exciting new brands.

Terms of the deal were not disclosed.

Launched in 2010 by its eponymous founder, Indie Lee, Indie Lee is an American omnichannel beauty brand sold in over 2,000 stores, primarily in North America, with key retailers including Blue Mercury and Ulta Beauty.

“We are thrilled to join forces with American Exchange Group, a company that shares our commitment to innovation and excellence. This partnership will allow us to reach new heights and bring our clean and effective beauty products to a broader audience,” said Lee.

American Exchange Group is a New York-based fashion accessories brand and product management company that continues to expand into the beauty and personal care industry.

In August of last year, the company acquired HatchCollective and its roster of beauty and personal care brands. which includes NatureWell, Orlando Pita Play, TXTUR and was found active.

With the acquisition of Indie Lee, American Exchange looks to expand the skincare brand to more retailers.

“Beauty and personal care are among the fastest growing categories and with this acquisition, AXNY Group is positioned to become a dominant leader in this sector. We see a significant opportunity to grow Indie Lee’s direct-to-consumer business by leveraging the expertise and resources of American Exchange Group,” said Alen Mamrout, CEO of American Exchange Group..

“We plan to expand Indie Lee’s products beyond skincare, both internally and through licensing, and explore broadcast brands through licensing and brand expansion.”

Earlier this month, American Exchange acquired clothing brand Island Surf Company.