Said Tran of his personal story creating Manscaped, "I have always been an entrepreneur. Adjusted operating profits are projected to hit $59 million by 2023, up from an estimate of $3 million or this year.
Manscaped said it could reach $508 million in annual sales by 2023, up from a $290 million estimate for 2021. The company said it has a robust product pipeline, one that will likely encompass more personal care products that focus on other male body parts and their needs.
The company anticipates receiving $305 million in gross proceeds from the deal and being debt free by the closing of the transaction.Īs detailed in its investor presentation, Manscaped has pushed into new areas such as ball spray toner, ball wipes, lip balm and anti-chafing ball deodorant. Manscaped is being valued at $1 billion, otherwise known as unicorn status. Manscaped expects the deal to close in the first quarter of 2022. The consumer products - which sells grooming hardware under catchy names such as the "Lawn Mower" (pubic hair trimmer) and the "Weed Whacker" (nose hair trimmer) - recently disclosed plans to go public by merging with a SPAC dubbed Bright Lights Acquisition Corp (BLTS). Tran - who founded Manscaped in 2016 - and his team are about to put investors' interest in male groin care to the test. But fast forward to about three years later and we are now the de-facto standard for male groin care," said Tran on Yahoo Finance Live.
There was no brand before under the circumstances. "We tapped into a market that was underserved. It's time for consumer products companies to think below the male waist, and for investors to get in on that trend, according to Manscaped founder Paul Tran.
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