Blackstone bet on ZO Skin Health, a brand you won’t find at Sephora. Now it could be worth $2 billion
The skincare brand skipped celebrity endorsements and Sephora shelves, building its business inside dermatologists’ offices and med spas.
Blackstone is investigating the potential sale of ZO Skin Health, a skincare company valued at approximately $2 billion, according to recent reports. Unlike well-known beauty brands such as Rhode or Kylie Cosmetics, ZO Skin Health has gained its reputation primarily through dermatologists and medical-aesthetics practices. Founded in 2007 by dermatologist Dr. Zein Obagi, the company launched its products in prestigious stores like Nordstrom before shifting its focus towards medical professionals.
ZO Skin Health offers a range of products specifically designed to address various skin concerns, and they provide additional support and training to physicians who recommend their products. This personalized approach, combined with controlled distribution channels and a strong reputation among patients, has contributed to the brand's success.
In fact, nearly 40% of ZO Skin Health customers at medical-aesthetics practices made repeat purchases in 2025, making it the top physician-dispensed medical skincare brand in the European Union by 2016.
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