2x Consumer Products Growth Partners, the Chicago-based investment firm, led a majority investment in the Troy Surratt color brand along with AHR Growth Partners and Heidi Manheimer, previously chief executive officer of Shiseido Cosmetics America.
WHO: Surratt Beauty was founded in 2013, and is known for its artistry, innovation, and Japanese influence. The brand offers a full color range, meticulously sourced from Japan after Surratt’s global search to discover the best. The brand’s distribution is focused on prestige beauty retailers, including Barneys NY, Liberty of London, MECCA in Australia, Space NK, and select Sephora and Bluemercury locations.
WHY: This investment will bring the capital and seasoned management to fuel growth.
IN THEIR OWN WORDS: “We believe beauty is a high growth, high potential space,” said Sharon Kieffer, managing partner at 2x Partners. Kieffer told WWD that while the firm’s investments in food mainly center around organic products, the same won’t necessarily hold true for beauty. “At the core, what we look for is highly differentiated products that we can support and make highly successful. We are thrilled to partner with Surratt Beauty because of our belief in Troy’s artistry, the award-winning products he has created and his commitment to innovation and creativity.”
John Bahr, Managing Partner at AHR, noted, “We are impressed by Surratt’s Japanese approach to beauty, and are excited to partner with 2x Partners and the team to help Surratt become a leader in the luxury space.”
Heidi Manheimer is a longtime friend and mentor to Troy and added, “I am eager to partner with Troy and the team to help take the brand to the next level. Everyone is going after the Millennial today, but at the same time, you have the luxury customer who is looking for something new, and Surratt fills that.”
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