In Brands, Finance

Westman Atelier has received a minority investment from Prelude Growth Partners.

WHO: Westman Atelier was founded in 2018 by makeup artist Gucci Westman with her husband and business partner David Neville, co-founder of Rag & Bone. The range is grounded in clean formulations targeted to older millennials. The line does not contain parabens, PEGs, phthalates, or synthetic fragrances, and is vegan and cruelty-free according to WWD. Current distribution includes Barneys New York, Violet Grey, Mecca in Australia and New Zealand, and online.

Prelude Growth Partners was formed in 2018 by Sontag and Neda Daneshzadeh to invest in consumer companies. Sontag was formerly global president of beauty at Johnson & Johnson and had spent more than a decade at the Estée Lauder Cos. Inc., while Daneshzadeh was a partner at L Catterton. Prelude makes growth capital and value-added operating support to fast-growing, high-potential consumer brands. The firm looks to make investments of $5 million to $15 million in companies across branded consumer categories such as beauty, personal care, health & wellness, food, beverage, and pet, among others. Last month they invested in 8 Greens.

IN THEIR OWN WORDS: “I believe there is a clear space in the market for a luxury brand that also speaks to wellness and integrity,” Westman said in a statement.

“With Gucci’s unparalleled expertise and Westman Atelier’s unique products, there is an incredibly strong foundation on which to build an iconic brand that will stand the test of time,” said Alicia Sontag, co-founder, and partner at Prelude.

DETAILS:

  • Prelude Growth Partners made a minority investment in Westman Atelier.
  • Andrew Rosen, former Chief Executive Officer of Theory and an investor in Rag & Bone, was also an early investor in the business.

Photo: via Westman Atelier

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