Love Wellness took its first outside investment, raising a $4 million Series A funding round led by PDC Beauty & Wellness Co.
WHO: Founded in 2016 by Laguna Beach alum Lauren (Lo) Bosworth, Love Wellness is a suite of personal care products consisting of natural, organic women’s probiotics, cleansers, and treatments. The business positions itself as a whole-body brand offering products across multiple categories from sexual wellness to ingestibles. The products are currently distributed in over 950 Ulta doors and will expand to all Urban Outfitters doors in October.
WHY: The capital from its strategic partnership with PDC will allow Love Wellness to invest in marketing, triple its employees from five to 15 by year’s end, and expand its retail footprint.
IN THEIR OWN WORDS: “Until now, we have been a baby brand, and I consider this investment as the capital we need to ‘glow up,’” Bosworth told Glossy. “We’ve never done a meaningful marketing campaign around a product launch or around the brand itself. We will try to bring the brand to life, because I’ve never told the story on a mass scale.”
“Love Wellness understands that women are their own best health advocates and want to practice wellness without shame or stigma,” said James V. Stammer, CEO of PDC Beauty and Wellness, Co. “They sit in a category of one as a result [of their product offerings] and are defining a new class of total body care companies that will represent the future of women’s wellness.”
- Love Wellness raised a $4 million Series A.
- The round was led by PDC Beauty & Wellness Co.
- This is the brand’s first outside investment.
- Bosworth would not detail the brand’s annual revenue, only stating it has surpassed sales from 2018, and sales increased 1,200% from 2017 to 2018.
- Currently, 90% of the company’s sales come through its own DTC site.
- It is also targeting additional retailers for 2020, beginning with a rollout to all 1,500 of CVS’s new in-store concept called CVS HealthHub, which will be completed by 2021.
Photo: via Love Wellness