Hims & Hers Lands Miley Cyrus: Could The Stock Be A Party In The USA?

A telehealth and health and wellness company that recently went public announced a new deal with platinum artist Miley Cyrus.

What Happened: Miley Cyrus is joining as a creative advisor for Hims & Hers Health HIMS. In the role, Cyrus will collaborate with the company to create a new line of prescription skincare products under the Hers side of the business.

Cyrus will also help with a “series of new advertising campaigns and social content.”

“While I struggled a lot with my skin when I was younger, I’ve learned that there isn’t a one-size-fits-all skincare routine – it needs to be personalized,” Cyrus said.

Related Link: Trouble Ahead For Hims & Hers Stock? 

Why It’s Important: Many consumers could be familiar with Hims & Hers thanks to the commercials that feature Jennifer Lopez, an investor in the company.

The company is also utilizing investor Alex Rodriguez to develop a new product line. The Blur Stick is a skincare brand for men offered in a travel-friendly tube. The product is exclusive to the Hims brand.

One of the keys here could be the social media reach of Cyrus. She has 46.2 million Twitter followers and over 134 million Instagram followers.

“I hope to work closely with the company and introduce my fans to an easier, more personalized skincare journey,” Cyrus said.

Hims & Hers believes adding Cyrus could help it bring its personalized skincare brands to a larger audience.

Hims & Hers announced first-quarter revenue of $52.3 million, up 74% year over year. The company exceeded estimated first-quarter revenue, which led to a full-year guidance raise from the company.

The company sees full fiscal year revenue to be in the range of $221 million to $227 million.

Price Action: Shares of Hims & Hers closed Friday down 5% to $12.21. Shares have traded between $8.09 and $25.40 since going public.