Private equity firm Stride has made a significant and timely minority investment in clean haircare brand Odele to fuel growth.
WHO: Minneapolis-based haircare brand Odele was launched in 2020 by Lindsay Holden, Britta Chatterjee, and Shannon Kearney. With extensive experience in the retail, marketing, and manufacturing in both big-box stores and smaller companies, the three merged best practices and perspectives to disrupt shelves with a clean, premium collection of products developed by hair type and texture. Odele boasts 20 products and national distribution with Target, CVS Pharmacy, and Ulta Beauty, as well as a thriving DTC business.
Stride is a private equity firm that specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands. Founded by a passionate group of experienced investor-operators, Stride's unique approach brings together a fully integrated team of successful investors working alongside seasoned operators to assist high-growth and disruptive consumer products and services businesses to hit their stride.
WHY: The growth capital from Stride Consumer Partners will fuel investment within key areas of Odele’s business, namely marketing, talent, and product innovation.
IN THEIR OWN WORDS: “When we launched Odele, we did so with the intention of bringing performance-first, clean, inclusive products to the shelf at an accessible price point and wrapped up in a beautiful bottle. We knew if we captured the consumer's attention and exceeded expectations in trial, they would come back for replenishment time and time again—and they have. We are beyond excited to partner with Stride. Their team is deeply knowledgeable, and their collaboration, from the initial conversation through the fundraise process, has left us inspired and confident that they are the right partner to help us continue this momentum and reach our ambition for Odele,” said Odele co-founder Lindsay Holden.
“At Odele, we built our company by prioritizing what is essential to us—an unwavering commitment to consumers through premium products, to retail partners through unprecedented service and to the planet by improving our carbon footprint. We’re dedicated to building a brand that will last for generations—and that takes patience and sometimes restraint, which isn’t always in alignment with the objectives and speed of private equity. We were drawn to Stride because they understood our vision and business philosophy and shared our commitment to people and the planet. We are thrilled to have found such strategic, thoughtful brand builders in Stride to join us on our journey of setting the standard for inclusive prestige performance at mass,” stated Odele co-founder Britta Chatterjee.
Steve Berg, Partner at Stride Consumer Partners, commented, “We were immediately impressed by the expertise and passion that Lindsay, Britta, and Shannon bring to Odele. They’ve created a distinctive, authentic brand which reflects their beliefs and mission. We’re grateful for the opportunity to support them as partners.” Nicole Fourgoux, Stride Operating Partner, added, “Odele is moving the bar in clean performance hair care. We have seen this market segment thrive at prestige price points and are thrilled that the Odele team has made performance-first clean formulas accessible. We know that Odele's positioning has huge potential in the modern marketplace.”
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