Sara Happ, a pioneer of the lip category, has taken its first outside investment since it launched in 2005. The brand sold a minority stake to BGM Ventures.
WHO: Founder Sara Happ started experimenting with sugars and edible essential oils in her kitchen, saw a niche opportunity in the beauty landscape, and self-funded the business launch of her namesake brand at the age of 25 with $10,000 of personal savings. Today the brand is distributed in 22 countries and 1,500 doors in the US, including Saks Fifth Avenue, Anthropologie, Thirteen Lune, Nordstrom, Revolve, and roughly 600 independent retailers.
IN THEIR OWN WORDS: “We’re a multimillion-dollar company and we’ve done it without any outside capital,” Happ told WWD, adding that the company has grown 30% every year since its founding. “We cannot keep up supply with demand, and I’ve never had this much retailer and customer demand for our products. That’s why the acquisition is so helpful with scaling.”
“I met Sara 18 years ago when she was making The Lip Scrub in her kitchen. I have watched Sara build her brand with such passion, grit and an unbridled will to win,”Greg Cooper of BGM Ventures said. “When the opportunity arose to make this acquisition, I jumped on it. I and some of the biggest names in beauty are thrilled to be working with Sara to take Sara Happ, Inc. to the next level.”
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