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Skinfix Lands Minority Investment from Stride Consumer Partners

November 19, 2021 BeautyMatter
November 19, 2021
Skinfix

Stride Consumer Partners, the private equity firm formed by former Castanea employees, has made its first investment, taking a minority stake in Skinfix.

WHO: Founded by Amy Gordinier in 2014 after she discovered a powerful 19th-century formula for treating eczema, Skinfix has since expanded to heal, replenish, and maintain the vital skin barrier, the body's first line of immune defense. Unbiased dermatologists test and recommend the clean and clinically active skincare brand. The brand is distributed exclusively through Sephora North America, Sephora at Kohl's, and Sephora Australia in-store and online.

Stride Consumer Partners was founded by a passionate group of experienced and successful investor-operators. The private equity firm specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands.

WHY: Skinfix will use the funding to expand the team as well as invest in product innovation, clinical studies and brand awareness.

IN THEIR OWN WORDS: "We actually had Skinfix on top of our list of brands to watch because we were watching the evolution of the skin care market," said Nicole Fourgoux, Stride Operating Partner. "We saw with younger consumers being much more educated around skin care the market really evolved toward a desire for brands that were not only clean or not only clinical, but truly both."

Steve Berg, Stride Partner, said the firm liked Skinfix because of the consumer passion around the brand. "We are here to help founders who are on a mission grow their passion brands without losing any of that magic that they really began with," he said. "We love Amy's vision for the brand and the company and are enthusiastic supporters of that vision. We're hoping to help her accelerate the path."

DETAILS:

  • Stride Consumer Partners made its first investment, taking a minority stake in Skinfix.
  • The terms of the investment were not disclosed, but according to WWD, industry sources estimate Skinfix is approaching $25 million in net sales. The company said its growth rate is 300 percent versus last year.
  • Gordinier self-funded the launch and raised capital from family offices. The Stride Consumer Partner investment is the first time the business has raised institutional capital.
  • Fourgoux and Berg will join the Skinfix board. Piper Sandler advised Skinfix on the transaction.
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