A major beauty company that owns half of Zoe Foster-Blake’s skincare company has taken another hit with Elsa Pataky’s beauty brand, in which it also has a major stake, now collapsed.
Named after the popular New South Wales holiday resort, Purely Byron offers a range of skincare products that have “clinically proven formulas and actives” inspired by the “natural beauty” of the area.
The company, co-founded by Pataky and backed by her husband, Hollywood superstar Chris Hemsworth, went into administration on Friday.
Purely Byron is 47.4 percent owned by BWX brands, with Hemsworth’s Byron Bay 1st Management owning a 3.2 percent stake. Directors Ido Leffler and Lance Kalish own about 22 percent each.
Purely Byron’s struggles are the latest to plague BWX, which bills itself as a “house of natural brands at the forefront of the global natural beauty and wellness movement.”
The collapse of a skincare company co-founded by Elsa Pataky and backed by her husband, Hollywood superstar Chris Hemsworth, has left customers wondering if they can still order its products.
BWX, backed by mining magnate Andrew Forrest, also looks after other popular beauty brands such as Foster Blake’s Go-To skincare range and Sukin.
Foster-Blake sold 51.5 percent of its business to BWX for $89 million in 2021 and was expected to sell its remaining stake to the same company for a similar amount.
However, the value of his part was scored for $30 million in December after BWX posted a staggering $336 million loss during the 2021-22 fiscal year.
BWX revealed last month that it bled another $100 million in the first half of the current fiscal year with the resignation of the company’s chief executive, Rory Gration.
The company’s latest woes are expected to severely reduce the value of Foster-Blake’s 48.5 percent stake in Go-To again, with BWX retaining the option to buy it, according to reports.
Purely Byron, BWX and DW Advisory were contacted for comment.
Cameron Gray and Justin Holzman of DW Advisory were appointed directors of Purely Byron on Friday.
“Purely Byron’s business operations are currently suspended while the administrators offer the Purely Byron business and assets for sale,” the couple said in a statement on Wednesday.
Zoe Foster-Blake’s (pictured with her husband Hamish Blake) Go-To Skincare company is owned by BWX. BWX has a 47 percent stake in Purely Byron
Despite Pataky repeatedly mentioning the high-end brand to his 5.4 million followers, his current role within the company, or possible future sale, remains unclear.
“Elsa Pataky has never been named a director of Purely Byron, and any agreement Elsa Pataky has with Purely Byron is strictly confidential,” the administrators said.
While Purely Byron has yet to publicly address the administration, its website has mysteriously placed the words “coming soon” under each of its products.
Other items appear to be for sale, including the Glowing Ritual Set, but the website won’t allow them to be purchased.
Purely Byron has shared two Instagram posts since going into administration that were quickly inundated with customers demanding answers about whether the business was still in business.
Purely Byron, co-founded by Elsa Pataky, went into administration last Friday
Two days ago, the company shared a video with tips on how to use the Native Sunrise Blend Eye Complex eye cream.
And on Tuesday, Purely Byron shared a photo from inside the home of Emma Lane, owner of Byron Bay’s The Farm place of worship.
‘While you don’t need a magazine-worthy bath to enjoy the sensory element of your Purely Byron rituals, it certainly doesn’t hurt. We can’t get enough of the co-founder of @thefarmbyronbay, Emma Lane’s warm and welcoming space,” the caption read.
But the post was met with confusion from some customers.
‘As you are now in administration, does that mean we can still order products or not? I was hoping to buy a few items this week,” one person wrote.
‘Can we still order?’ said another.
The same post was shared on Purely Byron’s Facebook account and again customers wanted to know if they could still buy their skincare products.
While Purely Byron has yet to publicly address the administration, its website has the message “coming soon” under each of its products.
Please, please, please tell me that I can still buy the products!!! I absolutely LOVE Purely Byron and don’t want to have to switch products,” said one customer.
Purely Byron was co-founded by Pataky, a local Byron Bay and Spanish-born actress who lives in the popular holiday destination with her husband and three young children.
She was revealed as a co-founder of the brand last year, along with Jacqueline Rosen Weisz as CEO and Kate Norbiato as Brand Director.
Speaking on the Purely Byron website, Pataky said she first had the idea for a skincare brand in 2019, but her plans came to a halt during the Covid lockdowns.
In 2021, the team began testing products and strategizing launch with the actress becoming the face of the Byron-born brand.
In June 2022, Purely Byron launched their Divine Ritual collection online, quickly followed by their Native Sunrise Blend collection.
“I was introduced to some of the native botanicals that are grown locally in Byron and was really intrigued,” Pataky is quoted as saying on the website.
‘I learned that some of them could be clinically proven to effect changes in the skin. An idea for a locally made skincare range was born.’