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Beauty guru Zoë Foster Blake has bought back her stake in Go-To Skincare for a fraction of the price she sold it two years ago.
The wife of comedian Hamish Blake sold her 51.5% stake of the beauty brand to BWX Group – an ASX listed beauty conglomerate that collapsed in April – for $89 million in 2021.
According to documents filed with ASIC, Foster Blake and Go-To co-founder Paul Bates have bought back their controlling stake in the business for just $21.8 million.
‘This is an incredible brand and business, with a deeply passionate team and an incredibly loyal and supportive customer,’ Foster Blake told The Australian Financial Review after the sale.
‘It is my joy and privilege to give both my full focus and attention [to Go-To]’, she added.
Beauty guru Zoë Foster Blake (left, with husband Hamish Blake) has bought back her stake in Go-To Skincare for a fraction of the price she sold it two years ago.
Go-To Skincare is now preparing to enter into its 10th year of operations.
Foster Blake started Go-To in 2014 and sold her 51.5% stake of the business to BWX for $89million in 2021.
She continued as chief creative officer and a director of Go To Skincare following the sale.
According to documents filed with ASIC, Foster Blake and Go-To co-founder Paul Bates have bought back their controlling stake in the business for just $21.8 million
‘This is an incredible brand and business, with a deeply passionate team and an incredibly loyal and supportive customer,’ Foster Blake told The Australian Financial Review after the sale
Unfortunately, BWX suffered losses of $335million in the 2021-2022 financial year, with mining magnate Andrew Forrest stepping in to bail the company out.
Go-To had distanced itself from BWX, saying it is operationally independent despite BWX owning 51 per cent of shares.
BWX revealed in February it had bled another $100million in the first half of the financial year with the company’s chief executive Rory Gration stepping down.
In April, BWX was placed into voluntary admission. KPMG was appointed to handle its collapse.
Foster Blake started Go-To in 2014 and sold her 51.5% stake of the business to BWX for $89million in 2021
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