LB Equity, an investment firm focused on emerging brands in the beauty and personal care sectors, has made a minority investment in CBD brand Herb Essentials.
WHO: Herb Essentials is a New York–based skincare brand that engineers its products around the unique beneficial properties of the cannabis plant. Founded by Robert Lund and Ulrika Karlberg in 2015, the brand currently offers a range of skincare, personal care, and lifestyle products.
LB Equity formed a $50 million CBD-focused fund earlier this year, LB Equity Emerging Growth. The intention is to invest in brands with between $1 million to more than $15 million in revenue. The fund is willing to invest in non-CBD brands and transition them into CBD brands. The first portfolio investment for the fund was a significant minority stake in Standard Dose, the online CBD marketplace selling vetted CBD beauty, food, and wellness products.
WHY: This funding will enable Herb Essentials to expand its product assortment, with innovation at the forefront, as well as execute an omnichannel growth strategy.
IN THEIR OWN WORDS: “We are focused on partnering with dynamic, visionary entrepreneurs and brands that set the bar high, use the highest-quality ingredients and add distinct value to the consumer experience,” said Jay Lucas, Managing Partner of LB Equity. “Herb Essentials is a perfect fit for us. The company has a strong, skilled founding management team and we’re very confident in their vision and ability to continue to successfully execute the brand’s distinguished growth strategy, which includes introducing new products made with different cannabis-derived ingredients, elevating the consumer-cannabis relationship and further expanding the brand’s distribution through e-commerce, independent boutiques and larger, strategically aligned retail partners in the US and internationally.”
“We’re extremely pleased to be partnering with LB Equity as we continue to grow our brand and execute our omnichannel strategy,” said Herb Essentials co-founder Robert Lund. “Herb Essentials is one of many entities that are currently starting to normalize the relationship between people, manufacturing industries, the retail industry and the cannabis plant. Our goal is to be present wherever the customer is—from curated, independent beauty and fashion boutiques to spas, yoga studios, and wellness and meditation centers, as well as online through both our own web store and our selected online partners’ sites.”
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