Kopari Beauty, the premium coconut-powered lifestyle brand, closed a $20 million funding round from the Growth Fund of L Catterton, Unilever Ventures, and San Diego-based University Growth Fund, among other investors.
WHO: The brainchild of Hawaiian-born naturalist and certified-organic chef Kiana Cabell, Suja juice co-founder James Brennan, and beauty experts Bryce and Gigi Goldman, Kopari launched in late 2015 as a direct-to-consumer brand with 100% organic coconut oil-based beauty products. Kopari products are available for purchase across the United States, Canada, Southeast Asia, and Australia, in retailers such as Sephora, Ulta, Nordstrom, Urban Outfitters, Riley Rose, Bloomingdale’s, and Anthropologie, as well as online at Amazon, and Revolve. Kopari has continued its rapid expansion into more than 1,800 brick-and-mortar stores worldwide and evolved into a range across five product lines.
WHY: Kopari will use the funding to enhance its commitment to product research and development that utilizes its hero ingredient, coconut, to its most elevated capacity, harnessing all of the multitasking benefits it has to offer. Additionally, the brand will allocate the funding to retail and international expansion, e-commerce improvements for UX/UI, and the brand’s subscription platform.
IN THEIR OWN WORDS: “The continued investment from such formidable firms demonstrates our sustained category dominance and successful market integration with our hero ingredient to reach a wide, and still growing, consumer set,” said Bryce Goldman, CEO and co-founder of Kopari. “We are thrilled to partner with Unilever Ventures and L Catterton as we reach new heights in the development of our conscious skin, body and personal care products. Most of all, we are excited about the immeasurable value around growth and strategy that both entities bring to the table.”
“In just a little over two years since our initial investment, Kopari has experienced tremendous growth and demonstrated both strong new product development and potential for global expansion,” said Michael J. Farello, managing partner of L Catterton Growth Fund. “We are confident in Kopari’s ability to maintain its position as a leader of the growing natural beauty and personal care categories and support the brand’s mission of providing its global fan base with natural products that fit every aspect of consumers’ beauty routines.”
“We are excited to partner with Kopari as the brand continues to prioritize developing cleaner, coconut-based personal care products,” said Olivier Garel, managing director and CEO of Unilever Ventures. “We are hopeful that our work together will help the brand continue to innovate and expand globally in each of its rich, category-specific verticals, spanning from personal care to skincare and beyond.”
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