L’Occitane Group-owned Elemis is a 37-year-old British skin care brand best known for its hero skus Pro-Collagen Marine Cream and Pro-Collagen Cleansing Balm. Private equity firm Pai Partners is rumoured to be in exclusive negotiations with the luxury skin care brand, according to a new report by WWD, which allegedly cites multiple sources. Elemis declined to comment when Cosmetics Business reached out, stating it does not comment on market speculation or rumours. The British spa brand quickly became known for its body care and facial skin care offering available in beauty salons, spas and cruise ships before expanding into wider retail. In 2019, L'Occitane entered an agreement to buy Elemis from Steiner Leisure in a deal worth US$900m.