Chris Hemsworth is facing an embarrassing business blunder after investing in his actress wife Elsa Pataky’s skincare company.
Founded less than 12 months ago, Purely by Byron was a passion project for the 46 year old Spanish actress and produced a number of products inspired by Elsa’s discovery of ”the incredible range of natural botanicals grown in the Byron Shire,” after first moving there almost a decade ago in 2014.
”I learnt that some of them [natural botanicals] could be clinically-proven to effect change on the skin,” the founder writes on the official Purely by Byron website.
She then goes on to describe how this realisation was how the ”idea for a locally made skincare range was born.”
Elsa founded Purely by Byron less than 12 months ago.
(IMAGE: Getty)
After releasing a number of expensive serums, creams and masks that ranged from $80 to over $400 for skincare sets, the brand was placed into administration on March 10 after failing to make a profit.
A recent report published by the brand showcased the extent of the financial damage, with the company outlining that they had lost approximately $3.6 million since its launch in 2020.
The company directors of Purely Byron, Lance Kalish and Ido Leffler, may also be under fire, with the report suggesting that they may be investigated for not fulfilling their duties.
Kalish and Leffler claim that the severe financial losses faced by Purely Byron stem primarily from difficulties with the company’s major shareholder BWX, with the company directors claiming that BWX provided less than half of the $8 million agreed upon to help establish Purely Byron.
Speaking to The Sydney Morning Herald, Leffler stressed that the report released by Purely Byron did not explicitly detail any misconduct or wrongdoing on behalf of the company directors.
Unfortunately for Elsa’s hunk of spunk husband Chris Hemsworth – best known for portraying Thor in Marvel movies – he will also be at a financial disadvantage through his 3.2 per cent stake the company.
Elsa made a point to be hands on in the development of her products.
(IMAGE: Instagram)The bad business news is not the first time Purely by Byron has been in the news for the wrong reasons, after being forced to deny claims it had allegedly copied the packaging, imagery, and website design of existing skincare line Habitual Beauty.
At the time of the controversy, Habitual Beauty founder and wellness entrepreneur Keira Rumble told news.com.au that her company had previously received ”generous” orders from the Purely Byron head office prior to its official launch.
”The similarities are far too similar for me not to talk about,” Keira said in a video on Instagram at the time.
Compare the pair!
(IMAGE: Instagram)Despite the clear similarities, Purely by Byron did refute the claims made by Keira, telling the Daily Mail that their branding was ”inspired by nature” and that they had done their ”due diligence” and undertaken research with an ”exploration of the competitive landscape.”
Purely by Byron General Manager Jacqueline Rosen then added that they hadn’t sampled or copied any Habitual Beauty products, despite their high order volume.
”Part of our due diligence and research of the space was an exploration of the competitive landscape. This is common practice across the industry, and we undertook ours openly, without subterfuge,” she said.
”Ultimately, the packaging and colour palette of our products was inspired by nature in line with the conventions of the skincare sector- evidenced by numerous brands globally which utilise the same colours and tones.”
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