Beautycounter has secured a $1 billion valuation through a majority investment from the Carlyle Group.
WHO: Founded by Gregg Renfrew, a former retail consultant, in 2011 and launched in 2013, Beautycounter is the leader in clean skincare and cosmetics whose mission is to get safer products into the hands of everyone. The Santa Monica, CA-based brand has led the way for improved transparency and accountability in the beauty industry, including advocacy efforts that update federal regulations. The direct-retail model sells clean skincare, makeup, and personal care products through a network of 65,000 direct salespeople, brick-and-mortar stores, and online. Beautycounter was one of the first brands to develop a Never List, which has grown to more than 1,800 ingredients they choose to never use when creating their products.
The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Investment Solutions. The firm has $246 billion of assets under management as of December 31, 2020, with 1,825 people in 29 offices across five continents.
WHY: The investment in Beautycounter builds on Carlyle’s long-term focus on partnering with founder-led brands focused on growth. The partnership will allow Beautycounter to accelerate its strategic initiatives, including increasing brand awareness as well as bolstering the company’s innovative, integrated, omnichannel business model.
IN THEIR OWN WORDS: “In 2013, I launched Beautycounter with the simple mission to get safer products into the hands of everyone,” said Beautycounter founder and CEO Gregg Renfrew. “Today marks an exciting and important milestone for our company and I am so proud to partner with Carlyle as we continue to work toward achieving that mission. I have long admired Jay and the team at Carlyle for their experience working with brands at the intersection of cultural relevance and consumer demand and believe that our combined vision will be instrumental in accelerating Beautycounter as the leader in clean beauty, and in the beauty industry as a whole.”
“We are so excited to partner with Gregg and her outstanding executive team to support Beautycounter’s movement to bring safer products to consumers,” said Jay Sammons, Head of Global Consumer, Media & Retail, The Carlyle Group. “Beautycounter is a pioneer and leader in the fast-growing clean beauty industry, and we see an opportunity to support a talented, founder-led team in amplifying the brand’s mission to change beauty forever.”
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