Waldencast SPAC

...but have been limited in their ability to scale FORCES DRIVING INDUSTRY CHANGE • Consumer desire for authentic, purpose driven brands • Digital channels allow modular scalability for smaller brands • eCommerce removing shelf space limitation • Asset light innovation and supply model INDIE BRAND LIMITATIONS • Few indie brands have scaled beyond $150-300m in sales alone • Professional management and infrastructure typically required Omnichannel Global expansion Supply chain robustness Sophisticated marketing abilities MX 8

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