AMERICAN EXCHANGE GROUP ACQUIRES CLEAN BEAUTY BRAND, INDIE LEE

NEW YORK, July 23, 2024 /PRNewswire/ -- American Exchange Group (AXNY Group), the industry leader in accessories design, licensing, and manufacturing, announced today that it has acquired clean beauty skincare brand, Indie Lee.

Founded in 2010, Indie Lee is renowned for its trusted range of clean skincare products. As a pioneer in the clean beauty movement, Indie Lee uses the world's finest natural, naturally-derived, and organic ingredients, combined with the most advanced technology available in personal care today, to create high-performance, ethical, and cruelty-free products.

This acquisition marks a strategic milestone for American Exchange Group, reinforcing its presence in the beauty and personal care industry. In August 2023, the company acquired its first range of beauty and personal care brands, including NatureWell, Orlando Pita Play, TXTUR, and Found Active. These acquisitions align with American Exchange Group's growth and lifestyle strategy, focused on identifying brands, partnerships, and opportunities that provide value to a diverse range of consumers.

"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."

After a life-altering medical diagnosis, former accountant Indie Lee left her corporate role to enter the beauty world. Seeking a balance between clean ingredients and effective formulas, she launched her complexion and body brand, Indie Lee. The brand is Prop 65 and EU compliant, formulating without over 1,300 banned ingredients in skincare, and adheres to the COSMOS standard whenever possible, a leading third-party global certification regulated by biodiversity safety and sustainability leaders.

"This move not only represents a strategic opportunity for expanded growth but also aims to introduce Indie Lee's internationally recognized product lines to AXNY Group's well-established retailer portfolio. Our continued strategy of growth through acquisition allows us to diversify our offerings and strengthen our position across various market segments," said Steve Velasquez, Chief Strategy Officer at American Exchange Group.

"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 Indie Lee, Founder of Indie Lee.

From its inception, Indie Lee adopted an omnichannel approach and is sold in over 2,000 locations, primarily in North America, through retailers that embrace the brand's philosophy. Key retailers include Blue Mercury and Ulta Beauty, targeting the Indie Lee consumer and aiming to meet them where it's most convenient.

This acquisition is an incredible opportunity for American Exchange Group to expand its footprint and deepen its commitment to delivering products that resonate with customers' evolving needs.

About American Exchange Group:

American Exchange Group is an industry leader in fashion accessory products and brand management. By facilitating distribution to major retailers internationally for their globally recognized brands, custom private label brands, and exclusive licensed brands?including footwear, tech wearables, watches, jewelry, handbags, fashion accessories, and beauty?American Exchange Group raises the bar by disrupting the status quo with value and quality, while staying at the forefront of trends. Expertise in brand strategy, marketing, sourcing, operational logistics, and digital innovation allows American Exchange Group to transform brands and forge connections with best-in-class, strategic and retail partners. Their consumer-centric approach ensures sustainable growth and long-term value. Boasting a comprehensive portfolio of iconic owned and licensed brands, American Exchange Group remains at the forefront of the industry, driving the creation of compelling brand experiences. www.axnygroup.com

About Indie Lee

Indie Lee, the founder, pioneered the clean beauty movement establishing the brand in 2010.  Indie Lee sources the world's finest ingredients from nature and marries them with the most prestigious technology available in personal care today. With multiple award-winning products including the recipient of the prestigious Allure Best of Beauty award, INDIE LEE is committed to creating change and building a like-minded community. Products Grounded in Nature, Supported Through Science, and Inspired by Life.tm www.indielee.com

SOURCE American Exchange Group