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Combe Doubles Down on Virtue Labs with Growth Equity Investment

May 23, 2023
May 23, 2023
Virtue Labs

Combe, one of the leading privately held family-owned personal care companies in the US, has increased its stake in biotech haircare brand Virtue Labs. The company also announced the appointment of Jose Luis Palacios as its Chief Executive Officer. 

WHO: Founded by beauty industry veteran Melisse Shaban in 2017, Virtue Labs claims to be one of the fastest-growing prestige haircare brands, with products available globally at Sephora, Bluemercury, and at select salons and retailers throughout the US, UK, Canada, Europe, and Australia. The brand is based on the discovery made by a group of bio-scientists, who found a new way to collect keratin in its pure form, leading to the creation of Alpha Keratin 60ku. The proprietary hair-healing protein is clinically proven to transform hair into its healthiest version in as few as five uses.

Combe, founded in 1949 and based in New York, is a privately held, third-generation family-owned personal care company. The company is the creator of iconic personal care brands, including Clearasil, Just For Men, and Vagisil. In addition to developing and nurturing its in-house brands, Combe selectively invests and provides growth capital and operational support to external brands and businesses whose mission is focused on tangibly improving the lives of consumers with differentiated technologies and brand propositions. 

DETAILS:

  • Combe has invested in Virtue Lab’s growth and development since its launch in 2017. In December 2020, the group participated in a Series C investment, taking a majority ownership interest in the company.
  • According to Crunchbase, Virtue Labs has raised $73.8 million over four funding rounds.  
  • Concurrent with the investment, Jose Luis Palacios was appointed its Chief Executive Officer and will join the Board of Directors. Virtue's founder, Melisse Shaban, will continue to serve as an advisor to the CEO and the board.
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