Stride Consumer Partners has taken a minority stake in the brand business founded by professional makeup artist Patrick Ta.
WHO: Patrick Ta Beauty was founded in 2019 by celebrity makeup artist Patrick Ta with Avo and Rima Minasyan. The brand's products are developed to make their consumer feel great in their skin and give them versatile products that can create any look. Patrick Ta is exclusively sold at Sephora, Flannels in the UK, and Cult Beauty.
Stride Consumer Partners was formed in 2019 by former Castanea employees. Founded by successful investor-operators, the private equity firm partners with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands. The firm made its first beauty investment taking a minority stake in Skinfix in 2021.
WHY: The funding will fuel distribution expansion and product innovation.
IN THEIR OWN WORDS: "We focus on passion brands where founders on a mission have developed a very distinctive and extremely high-quality product and have generated a tremendous amount of customer loyalty," said Steve Berg, partner at Stride. "Patrick is so authentic and talented as an artist, and the products they're developing are incredibly high quality, but also distinctive."
Added Nicole Fourgoux, the firm's operating partner, "This really feels like an untapped opportunity for us. We have the opportunity to focus on the portfolio and distribution expansion, with a big focus on our exclusive partner, Sephora."
TRIBE DYNAMICS EMV: Patrick Ta Beauty pulled in $18.6MM EMV in Q4. While this total represented a 13% quarter-over-quarter decline, it also marked an impressive 36% year-over-year improvement. Though the brand saw respective 15% and 34% QoQ declines to its community size (2.1K creators) and content volume (7.7K posts), creators who continued mentioning Patrick Ta Beauty did so at a more generative rate: the brand’s $8.9K EMV per creator average proved a 2% QoQ uptick. Patrick Ta Beauty’s top four EMV drivers, all of whom were retained from Q3, averaged a 153% QoQ increase in their EMV contributions. Notably, while the brand’s EMV generated by Instagram posts ($13.7MM) saw a 22% QoQ decrease, Patrick Ta Beauty made gains on both YouTube ($3.4MM, 22% QoQ growth) and TikTok ($1.4MM, 47% QoQ growth).
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