Nu Skin is closing BeautyBio, the beauty brand it acquired in 2023 for $75 million, according to BeautyMatter.

The Utah-based direct-selling company, founded by Latter-day Saints, purchased BeautyBio as part of its brand expansion strategy. The closure represents a significant financial loss less than three years after the acquisition.

Nu Skin has faced challenges adapting its multi-level marketing model to evolving retail landscapes and increased regulatory scrutiny.