European private equity firm Peninsula Capital has acquired a 30% stake in VeraLab, the Italian beauty brand created by Cristina Fogazzi.
WHO: VeraLab was founded in 2016 by Italian beauty influencer Cristina Fogazzi, who goes by Estetista Cinica (Cynical Aesthetician). She is a beautician who has built a following and digitally native brand grounded on being real about skin problems and aging. VeraLab was launched as a skin and bodycare range and recently expanded in color with Overskin. In 2019, the brand opened a flagship in Milan and another in Rome in 2021. The brand is also found in Rinascente department stores and the Pinalli and Naima perfumery chains, as well as at local pharmacies.
Peninsula Capital is a flexible and long-term European private equity investor backing companies with strong fundamentals and unique products or services portfolios. The firm makes investments ranging from €30 million to €100 million per single transaction and can deploy significantly more significant amounts (up to €1 billion) via co-investment agreements.
IN THEIR OWN WORDS: “The strength of the company in Italy—one of the most competitive markets in beauty globally—the inclusive message that defines the brand, and Cristina’s energy and entrepreneurial vision constitute a unique and exceptional basis on which to work to turn VeraLab into one of the leaders in European beauty,” Peninsula said in a statement.
Fogazzi also believes “Peninsula represents the ideal partner, thanks to its presence in markets that are strategic for VeraLab and its consolidated experience in the consumer retail segment, and in beauty in particular.”
“We are happy to welcome Peninsula [as] shareholder of Reforme and I believe its contribution, both financial and managerial, and its network will enable a strong acceleration in the global development of a brand which is already consolidated in the Italian market,” said VeraLab CEO Mauro Marcolin.
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