American Exchange Group acquires beauty label HatchCollective

Accessories and manufacturing firm American Exchange Group has acquired beauty and personal care conglomerate HatchCollective for an undisclosed sum.

The strategic takeover builds on the group’s ongoing portfolio expansion, marking its first step into the beauty market in a bid to further its overarching growth and lifestyle strategy.

It also follows the group’s entrance into the footwear industry, which it began to initiate two years ago with the acquisitions of Aerosoles and White Mountain.

With HatchCollective, American Exchange now takes on the firm’s range of cosmetics brands, which include the likes of NatureWell, Found Active, Orlando Pita Play and Paint & Petals.

As part of the deal, HatchCollective has also been renamed AX Beauty Brands, however will still offer the same line of products to consumers at retailers such as Dillard’s, Macy’s and Amazon.

In a release, CEO of the group, Alen Mamrout, said: "I have always believed in a head-to-toe approach when building our brand portfolio, seeking out opportunities that genuinely enrich and enhance the lives of our consumers and HatchCollective along with their range of trusted and science-backed beauty and personal care products fits perfectly into that strategy.”

Mamrout added that with the acquisition, the company continues on its path to “provide our customers with trend-right products that offer value at an affordable price point”.