Powered Brands was established in 2020 as a special purpose acquisition company, with its operations centered in New York, New York. The entity was created to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more enterprises, specifically aiming for opportunities within the beauty, wellness, and broader consumer-related industries. However, the company announced in late 2022 that it would redeem all outstanding public shares, concluding its existence by early 2023, as it did not complete an initial business combination within the designated period.