L’Oreal Australia’s Managing Director Mark Tucker has joined budding hemp wellness brand Live Verdure (ASX: LV1) ahead of the launch of its new skincare brand.
Live Verdure is a flowering Australian health and wellness company that was listed on the ASX in December 2020. The company currently operates food brand 13 Seeds, which produces hemp protein powders, oils, and supplements.
Though 13 Seeds is a reasonably new brand, it’s become popular quickly, as its online sales rose 32% in the last quarter. This popularity is partially due to increasing interest in products made with Australian hemp, as Live Verdure sources 100% of their hemp from Tasmania. The nutraceutical market is also growing quickly globally, as it’s expected to reach $US754 billion by 2027.
Live Verdure is also preparing to enter another massive global market – skincare. The company has teamed up with Tucker to launch its new skincare line, “8 Seeds”. Tucker will serve as the General Manager of Skincare and will build 8 Seeds into a global business. He will work alongside partner company THG Ingenuity, which specialises in bringing new brands to market.
Tucker has been a part of Live Verdure for a few months already, as he was elected to the company’s advisory board in June. He has a long history of growing companies quickly, as he helped grow L’Oreal’s revenue from $12 million to $400 million in six years.
In a media release from Live Verdure, Tucker explained that the timing is currently perfect to launch a hemp-based skincare brand in Australia.
Now is the perfect time to build 8 Seeds into a brand with both immediate and long-term appeal, and I look forward to bringing our hard work to fruition.
Long-term, Live Verdure intends to grow 8 Seeds into a leading Australian skincare and beauty brand. And while the cannabis skincare market is still fresh-faced, it’s certainly growing quickly, as hemp has both anti-inflammatory and moisturising properties that make it perfect for a wide range of skin types.
