Beauty Queen’s Blush Fades as Skincare Range Suffers Multi-Million Dollar Loss

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Entrepreneur Zoë Foster-Blake’s Go-To skincare range business has taken a tremendous financial hit, with the significant shareholder recently announcing a devastating $ 100 million loss.

In 2021, Foster-Blake concluded a successful deal that saw her selling 51.5% of her business to the prominent beauty products conglomerate BWX for $89 million. According to sources close to the company, she is also expected to sell off her remaining stake at an equal price soon.

Despite this, her share was devalued by $ 30 million in December when BWX reported an enormous loss of $ 336 million during the 2021-22 fiscal year.

In a recent announcement, BWX reported incurred losses of $ 100 million in the first half of this financial year. This news comes with the resignation of its CEO, Rory Gration.

The newest loss could further minimise the value of Foster-Blake’s 48.5% ownership in Go-To, and BWX is still eligible to buy her stake, according to reports.

After acquiring their third luxurious mansion since arriving in Sydney and having debuted on AFR’s Young Rich List, Foster-Blake and her Gold Logie-awarded comedian husband Hamish Blake were hit with a tremendous shock.

Foster-Blake created Go-To to provide consumers with the ultimate beauty experience – no phony science or nonsense, just uncomplicated skincare solutions that deliver results.

With the PwC chief risk officer Nadia Carlin’s explicit statement of material uncertainty in BWX’s financial results, it is still being determined what lies ahead for the skincare brand’s major shareholder.

“However, Foster-Blake is not one to be deterred by hard times and continues to remain committed to her brand,” said a spokesperson for the company who stated that “Go-To will continue its mission of providing simple, effective skincare solutions.”

It remains to be seen if Foster-Blake plans to stay with Go-To or if this loss will be the last of her involvement in the brand.
The future of the Go-To skincare range remains uncertain, but one thing is for sure: Foster-Blake’s ambitious spirit and passion for beauty products will be around for a while.

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