Private equity firm VMG has made a minority investment in prestige hair care brand Briogeo.
WHO: Briogeo is a natural hair care and treatment product range with superfood and wellness ingredients. The brand created a niche within the hair care category with the skinification of hair positioning. Founded by Nancy Twine in 2013, the brand is currently distributed in Sephora, Nordstrom, and Net-a-porter, among others, and on its own website.
San Francisco-based private equity firm VMG works intimately with founders and leaders of branded consumer product companies, providing the resources and guidance needed to propel them to their next level of growth and value. Beyond capital, the value-added investment philosophy commits their deep experience, strategic guidance, and passionate focus to help partners accelerate growth and brand awareness and achieve their own definition of success.
IN THEIR OWN WORDS: “Hair is always going to be our core focus, and bread and butter of the Briogeo brand, but earlier this year we launched a new category called B. Well, which stands for Briogeo Wellness, and it really gives us the opportunity to take our clean-yet-highly-effective ingredient methodology and expand it beyond just hair care,” Twine told WWD.
Robin Tsai, managing director with VMG, told WWD, “We love the focus on inclusivity from a brand perspective. Briogeo stands for something that welcomes all consumers, and we found that really refreshing as a fund, and we think that’s where consumers are headed as well.”
- Private equity firm VMG has made a minority investment in Briogeo.
- Industry sources said the business did between $30 million and $35 million in retail sales for 2018, and is on track to do between $60 million and $65 million in retail sales for 2019.
- VMG recently sold Sun Bum to SC Johnson and has also backed Drunk Elephant, which is in the market with Financo and Moelis.
- Financo represented Briogeo in the VMG transaction.
Photo: via Briogeo