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L Catterton-Backed Beauty Industry Group Acquires Bellami Hair

May 18, 2022
May 18, 2022
Bellami Hair

L Catterton-backed Beauty Industry Group, the leader in professionally installed and DIY hair extension products, acquired Bellami Hair.

WHO: Nikki Eslami and Julius Salerno founded Bellami in 2012 with a vision to bring luxury hair extensions to women that want to look and feel their best. Building on its direct-to-consumer roots, Bellami's consumer footprint has delivered industry-leading growth since expanding to an innovative direct-to-stylist engagement approach that brings its products and insights to the key digital platforms where stylists engage with each other and their customers.

Founded in 2004, Beauty Industry Group (BIG) has grown exponentially to become the leading platform in the rapidly growing global hair extensions category, comprising a premier portfolio of 13 market-leading brands including HaloCouture, Donna Bella Hair, Beauty Works, Hairtalk, and Luxy. Through its unique multichannel direct-to-stylist (DTS), direct-to-consumer (DTC), and professional distribution network, the company currently serves a global customer base reaching more than 100,000 hair salons and stylists, and millions of consumers across 165 countries worldwide.

WHY: This deal expands BIG's portfolio to 14 extension brands and opens a new avenue of distribution. BIG will support Bellami as it advances its differentiated go-to-market strategy that bypasses distributors and sells directly to salons with independent sales reps, a digital approach, and educational support specialists.

IN THEIR OWN WORDS: "We have long admired Bellami for truly redefining the quality, perception, and customer engagement strategy of hair extensions in the growing DTS category," said Derrick Porter, Chief Executive Officer of Beauty Industry Group. "The brand has a remarkable runway for growth, and we look forward to working with the team to equip Bellami with the product innovation, data insights and analytics, performance marketing expertise, and supply chain focus that BIG has cultivated through our ongoing brand-building efforts. Our partnership with Bellami represents an important step towards creating a complete hair solutions company that tells the story of how hair products can solve problems for women around the world."

Nikki Eslami, co-founder of Bellami, said, "I'm thrilled that Bellami is entering its next chapter of growth alongside the BIG team. Their like-minded focus on elevating the hair solutions category marks a natural evolution of Bellami's mission over the past decade. With BIG's support, Bellami will expand its reach in meeting the diverse hair needs of women, whether it be thinning, alopecia, dryness, postpartum hair loss, damaged hair, or length. It is no surprise that hair is emotional, and a critical part of many people's identity. We want it to be a source of confidence."

Julius Salerno, co-founder and Chief Executive Officer of Bellami, continued, "This transaction is an exciting milestone for Bellami as we continue cultivating methods to reach our consumers through authentic and effective channels. I look forward to working closely with the entire BIG team to bring Bellami to even more customers and accelerate our important investment in stylist education."

Avik Pramanik, Partner at L Catterton, said, "Our research has shown that consumers of all generations are increasingly demanding solutions for their hair challenges that provide a distinctive combination of functional performance, luxury experience, and broad accessibility across a variety of channels. We are confident that the combined capabilities of BIG and Bellami will enable the business to continue providing consumers with the most innovative products and services not only in the hair extensions category, but also well beyond. L Catterton and HGGC are pleased to continue supporting BIG's vision to create one of the world's leading beauty platforms."

DETAILS:

  • Beauty Industry Group acquired Bellami Hair. Terms of the transaction were not disclosed but the transaction is supported by existing BIG investors, including L Catterton and HGGC.
  • Bellami's products and services will remain available under their existing brand as part of the BIG portfolio, and the company will continue to be headquartered in Chatsworth, California.
  • Co-founder Nikki Eslami will continue to serve as an advisor. 
  • In August 2021, L Catterton acquired a majority stake in BIG, and existing shareholders, including HGGC, CEO Derrick Porter, and the company's management team, reinvested alongside L Catterton and continue to own a significant minority stake in the company.
  • In 2018, Beauty Industry Group (BIG), along with Gauge Capital, acquired the assets of HaloCouture, the creator of the popular Halo hair extension system, and Hidden Crown Hair Extensions.
  • Harris Williams advised Bellami Hair on the sale.
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