American Exchange acquires clean skincare brand Indie Lee

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

Terms of the deal were not disclosed.

Launched in 2010 by namesake founder Indie Lee, Indie Lee is an American omnichannel beauty brand, sold in more than 2,000 locations, 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 enable us to reach new heights and bring our clean, effective beauty products to a wider audience,” said Lee.

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

In August last year, the company acquired HatchCollective and its roster of beauty and personal care brands that includes NatureWell, Orlando Pita Play, TXTUR and Found Active.

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

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

“We plan to expand Indie Lee products beyond skincare, both in-house and via licensing, and explore diffusion brands through licensing and brand expansion.”

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