Clean makeup brand Ilia has raised a Series B from Sandbridge Capital to fuel growth.
WHO: Ilia was founded by Sasha Plavsic and her brother, Zachary, who developed a line of clean makeup products. Ilia offers a “full face” assortment of more than 100 distinct high-performance products crafted with certified organic ingredients and nontoxic synthetics. The brand strives to ensure its products are manufactured ethically and sustainably, including the use of recycled aluminum and post-consumer recycled paper printed with vegetable-based dyes. Its unique combination of brilliant pigments, superior performance, and nourishing organics has earned Ilia a leading position in this fast-growing category.
Sandbridge Capital partners with global brands in luxury, disruptive consumer-based technologies, beauty, health, and wellness. Brands in the fund’s portfolio include Thom Browne, Derek Lam, Farfetch, The Real Real, and Youth to the People.
IN THEIR OWN WORDS: “Like other brands in this industry, I believe many of us are seeing accelerated growth, so when you raise capital you generally have an idea of how long it will take you,” Ilia founder Sasha Plavsic told WWD. For Ilia, that Series A was meant to last about a year or 18 months, but Plavsic decided to raise a little sooner to “not be in a rush.”
Lynda Berkowitz, the Company’s CEO, commented in a statement, “I am thrilled to partner with Ken Suslow and the Sandbridge team, as well as work together again with Brian Thorne at Silas Capital. Their investment and industry expertise will greatly support pronounced growth opportunities for ILIA.” Berkowitz joined the brand in 2016 after working for brands like, Too Faced, Perricone MD and Bobbi Brown.
Ken Suslow, Sandbridge Founding Managing Partner, added: “ILIA impresses as a very special brand that is authentically and transparently true to its clean purpose driven mission, thoughtfully unifying prestige and clean beauty in support of its uniquely elevated brand. We are highly enthused to be partnering with Sasha and Lynda, and very much look forward to leveraging Sandbridge’s expertise as global brand builders in support of ILIA’s compelling growth trajectory.”
Brian Thorne, Partner of Silas, stated, “We’re extremely proud of the success that Sasha, Lynda and the ILIA team have achieved over the past year since our initial investment, and even more thrilled about what’s to come for this truly innovative brand. With additional growth capital, a strong new partnership with Sandbridge and the continued support of our firm, we intend to further solidify ILIA’s position as the category leader in clean color cosmetics.”
- Ilia raised a Series B from Sandbridge Capital. The terms were not disclosed.
- The round follows a Series A that the brand closed in late 2018.
- According to WWD, industry sources noted the business has been doubling year over year, and ended 2019 with about $22 million in retail sales. For 2020, retail sales are projected to approach $35 million.
- The Sandbridge money is meant to help fund increasing marketing and sampling initiatives, as well as product technology and new hires, including a creative director.
- Ilia will also unveil a rebrand, which takes into account modernization and sustainability ideals. The brand is also starting to work with TerraCycle to recycle its packaging.
- In 2020, Ilia will have its full product lineup in about 600 doors. The focus will remain on North America with the gradual expansion with Sephora, where the brand expects to double its shelf space and add between 100 and 125 more doors.
Photo: Ilia Beauty via Facebook