Waldencast plc

Waldencast plc operates as a beauty and wellness platform that develops, acquires, accelerates, and scales high-growth, purpose-driven brands. The company's business model is brand-led, aiming for customer proximity, business agility, and market responsiveness while preserving each brand's distinct identity. Waldencast's initial step in this strategy was the Business Combination with Obagi Medical and Milk Makeup. As part of the Waldencast platform, these brands benefit from the operational scale of a multi-brand platform, expertise in managing global beauty brands, a balanced portfolio designed to mitigate category fluctuations, asset-light efficiency, and the market responsiveness and speed of entrepreneurial independent brands. The company leases several properties for its operations. These include an office in London, United Kingdom, with 1,400 square feet expiring in December 2026; an office in Long Beach, California, with 28,300 square feet expiring in January 2027; an office in The Woodlands, Texas, with 16,500 square feet, where the sublease expired in December 2025 and is actively being marketed for sublease, expiring in January 2033; a subleased warehouse and office space in Conroe, Texas, totaling 35,000 square feet of warehouse space and 4,200 square feet of office space, running through February 2032; an office and in-house studio in New York, New York, with 17,500 square feet expiring in November 2030; and an office and in-house studio in Los Angeles, California, with 1,500 square feet, subleased on a month-to-month basis for a fee of $0.015 million per month. Waldencast has 3 executive officers and 364 full-time employees across the group. As of December 31, 2025, Obagi Medical had 248 non-unionized employees, and Milk Makeup had 100 non-unionized full-time employees.