Today’s announcement is a testament to our steadfast commitment to creating a high-quality product and sustainability-focused brand that our consumers love,” said Jane Moran, Eva NYC Brand President. “We look forward to our new partnership with Bansk and leveraging their expertise to take Eva NYC to new heights.” Bansk Group to Acquire a Majority Stake in Industry-Leading Haircare Brands amika and Eva NYC Positions Fast-Growing Independent Haircare Brands to Expand Reach and Bring Sustainable, Quality, and Effective Haircare to a Broader Community of Diverse and Passionate Consumers and Professionals New York, May 12, 2022 – Bansk Group (“Bansk”), a consumer-focused private investment firm dedicated to building distinctive consumer brands, today announced that it has entered into a definitive agreement to acquire a majority stake in amika and Eva NYC, two of the fastest-growing scaled independent haircare brands in the U.S. Terms of the transaction were not disclosed. We are thrilled to join forces with Bansk to build on our momentum and accelerate the reach of our mission of friend to hair, hairstylist, people, and the planet in North America and international markets," said Chelsea Riggs, Amika Brand President. "Since inception, Amika has pushed the boundaries of beauty to create the very best products that are also accessible, responsible, and beloved by both professionals and consumers. We are confident that the brand will continue to excel with Bansk's support and guidance." WHY: In partnership with Bansk Group, the brands will seek to expand their reach across customers, channels, and geographies, while continuing to be industry leaders in sustainability, efficacy, and innovation.

Today's announcement is a testament to our steadfast commitment to creating a high-quality product and sustainability-focused brand that our consumers love," said Jane Moran, Eva NYC Brand President. "We look forward to our new partnership with Bansk and leveraging their expertise to take Eva NYC to new heights." Since its founding in 2009, amika has grown to become one of the largest independent haircare brands in the U.S. and is the only independent brand of scale that sits at the intersection of professional, prestige, and digital channels. amika’s clean and highly effective portfolio of haircare products and tools has earned the brand numerous accolades, including its standing as a Top 10 hair brand at Sephora, #2 partner brand at SalonCentric, and one of WWD’s Most Powerful Beauty Brands. Through its commitment to professional-quality products and an inclusive ethos, amika has built a passionate and diverse community of consumers and salon professionals. Bansk Group, a consumer-focused private investment, entered into a definitive agreement to acquire a majority stake in Amika and Eva NYC, two of the fastest-growing scaled independent haircare brands in the US. How long should you leave a hair mask in? You should leave in a moisturizing hair mask for at least 3-5 minutes , but depending on the type of mask and your hair’s needs, you may leave it on longer for anywhere between 10-15 minutes. Be mindful to not leave a hair mask on damp hair for too much longer than instructed use as it can cause hair to become too moisturized and prone to breakage . We are thrilled to join forces with Bansk to build on our momentum and accelerate the reach of our mission of friend to hair, hairstylist, people, and the planet in North America and international markets,” said Chelsea Riggs, amika Brand President. “Since inception, amika has pushed the boundaries of beauty to create the very best products that are also accessible, responsible, and beloved by both professionals and consumers. We are confident that the brand will continue to excel with Bansk’s support and guidance.”

Eva NYC recognized as a Great Place to Work

Do you use conditioner after a hair mask? Traditional conditioners are meant for daily use following a shampoo. Hair masks are similar to conditioners but are more concentrated and focused on providing restorative care for those extra strengthening and sustaining benefits. While both conditioners and hair masks are recommended to use in your hair routine for healthy hair, you should replace your conditioner with the ha ir mask 1-3 times a week rather than using one after the other in a single wash. This is a really great time in the category to be investing in brands that are further up the chain in terms of their premiumization,” Kelly said. “That premiumization effect has happened in skin care, color cosmetics, fragrance, and 50 percent or more of those volumes are with premium brands. Hair care is significantly lower and the consumer is focused on what they’re using in their hair. Retailers on the front lines are positioning their shelf space to appeal to those consumers adding higher-quality products.” Upon the close of the transaction, amika and Eva NYC will continue to operate as individual brands under their respective brand presidents, Chelsea Riggs and Jane Moran. In partnership with Bansk Group, the brands will seek to expand their reach across customers, channels, and geographies, while continuing to be industry leaders in sustainability, efficacy, and innovation. Founded in 2009, amika is one of the largest independent haircare brands in the U.S. and the only one of scale at the intersection of professional, prestige, and digital channels. Brooklyn-born and salon-raised, amika’s unwavering commitment to professional-quality products has guided the development of a clean and highly effective portfolio of haircare products and tools that are formulated following EU standards and without harmful ingredients such as SLS and SLES. amika’s high-quality, innovative, and responsible products cater to all hair types, textures, and styles, and its brand and artistic culture are defined by an inclusive ethos that has built a passionate and diverse community of loyal consumers and salon professionals. Later this year, amika will receive the highly regarded Clean at Sephora seal across its entire Sephora assortment, joining as only the third professional haircare brand to qualify.

Bansk Group to acquire a majority stake in Amika and Eva NYC. The terms of the transaction were not disclosed, but this marks the business's first outside investment. We are excited to partner with brands that share our vision for the future of the beauty and haircare industry,” said Chris Kelly, Partner at Bansk Group. “Consumer interest in high-quality haircare has accelerated in recent years, following the premiumization trends we have seen in other beauty and personal care categories. Today’s haircare consumers are increasingly passionate and educated about the quality of the haircare products they use – and how those products are formulated – driving exciting growth opportunities in prestige and masstige hair. Both amika and Eva NYC have built distinctive brands founded on proven efficacy, sustainability, and inclusivity, and are leaders in driving and celebrating innovation and diversity – well positioning them to capture this growth.”Founded in 2012, Eva NYC is one of the fastest growing masstige haircare brands in the U.S., with a deep focus on sustainability, affordability, and proven results. The brand was named one of the Top 10 fastest growing haircare brands by Tribe Dynamics, the #1 fastest growing mass hair brand at Ulta, and the #1 fastest growing hair brand at Sally Beauty for the third consecutive year. As the only masstige haircare brand with an aluminum portfolio that is 100 percent recyclable, certified cruelty-free, vegan, non-GMO, and free of harmful ingredients, Eva NYC combines powerful, clean ingredients with innovative technologies and a leading network of U.S. retail distribution partnerships to reach a growing number of sustainably-minded customers each day. For Jane Moran, Eva NYC’s brand president, the opportunity lies in solidifying its operations. “We’re looking forward to leveraging this consumer expertise and operational resources,” she said. “We will continue to partner with our key retailers in the U.S. and provide them with innovation to build loyalty to the brand and with our consumers.” Both brands are also focused on sustainability. Amika and Eva NYC are climate-neutral certified, while Eva NYC is a part of Ulta Beauty’s Conscious Beauty program as well as Target’s Target Zero accreditation. Amika is aiming to be a part of Clean at Sephora this year and both are working toward becoming certified B Corporations in 2022.