Two-year-old indie beauty brand Kosås has secured Series A funding from investment firm CircleUp Growth Partners to fuel growth. The brand has seen substantial organic growth without prior outside investment and doubled its sales in 2017 with sales expected to triple in 2018.
WHO: Color cosmetics brand Kosås was founded in 2015 by Sheena Yaitanes with the purpose to cultivate beauty on every level and offer women barrier-breaking formulations with universal appeal. Yaitanes, who trained as a fine artist and is also a chemist, was introduced to makeup at a young age by her mother who repped Clinique and Clarins. Her unique background and expertise was the lens through which the brand was founded. Kosås products are consciously formulated with premium ingredients and botanically rich formulas that flatter a true range of skin tones. The name Kosås comes from the five interconnected layers, or “Kosås,” of the self: the physical, energetic, mental, intellectual, and soul.
Focused on investing in visionary founders, CircleUp Growth Partners leverages CircleUp’s proprietary technology asset, Helio, to identify innovative brands with differentiated products and provides entrepreneurs with a unique set of resources and actionable, data-driven insights to propel their businesses forward. CircleUp has a proven track record of identifying emerging brands and their current investments in beauty and wellness including HUM Nutrition and Supergoop.
WHY: The investment will fuel growth along with domestic and international expansion.
IN THEIR OWN WORDS: “With this first infusion of outside capital, we plan to build on the strong foundation we have created since our inception two years ago, while fueling our growth trajectory with a narrative-driven content strategy, innovative product development, and expanded distribution through key retail partnerships, as well as our own direct-to-consumer channels. We will have the opportunity to fully realize the world of Kosås,” Yaitanes said in a release.
“Sheena Yaitanes has an incredible vision for Kosås and is the type of passionate entrepreneur that we are fortunate to partner with,” said Alison Ryu, Managing Director at CircleUp Growth Partners. “Kosås celebrates all women and their natural beauty, and Sheena’s unique perspective on product formulation, as both a chemist and artist, has resulted in distinct shades that complement a woman’s face. The natural beauty landscape continues to grow rapidly as consumers seek out clean label, high-performance cosmetics, and we couldn’t be more excited to partner with Kosås on this journey.”
“We are looking to reinforce and accelerate all aspects of the business. How we rally our community around our core messages of empowerment and energy will be key,” adds Yaitanes. Beyond aggressive omnichannel distribution plans, Kosås’ rapid growth trajectory includes the launch of several new game-changing cosmetic products in 2018, as well as an expanded marketing and communications strategy to generate brand awareness and build brand equity.
2 Article(s) Remaining