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Waldencast Takes Majority Stake in Kjaer Weis

June 21, 2021 BeautyMatter
June 21, 2021
Kjaer Weis

Waldencast Ventures acquired a majority stake in the pioneering clean color brand Kjaer Weis.

WHO: Kjaer Weis is the pioneering and multi-award-winning organic makeup brand that fuses the worlds of luxury performance and sustainability without compromise. Founded by Danish-born, New York-based makeup artist Kirsten Kjaer Weis, KW has developed a cult following by combining a minimalist Scandinavian aesthetic with the unapologetic spirit of Kirsten’s adopted home of NYC.

Waldencast incubates and accelerates forward-thinking brands in the early stages of their development through funding and operational expertise to help them scale and thrive. Inspired by the growing movement towards conscious consumerism, the company is driven by a belief that responsible entrepreneurship can be a powerful force for change. Drawing on decades of hands-on, operational experience in the global consumer beauty industry, the founders assembled the Waldencast Collective.

IN THEIR OWN WORDS: “Kirsten built the brand on the basis of being a non-compromise brand,” Michel Brousset, founder and Chief Executive Officer of Waldencast, said to WWD. “She is a makeup artist who wants products that perform, but deliver in a way that is consistent with her beliefs. She speaks with a quiet voice, but one that comes with conviction.”

“After 10 years of building the brand into something very unique and special, the time was right to grow,” Kjaer Weis said. “I needed the right investor who supports the vision and to me, that is Michel and Waldencast.”

“We are not time-bound by the investment—we have permanent capital,” Brousset said. “Our ambition is to be one of the major luxury beauty brands in the world, to be on par with market leaders in the next five years.”

DETAILS:

  • Waldencast Ventures has acquired a majority stake in Kjaer Weis.
  • Publishing and marketing executive Gillian Gorman Round has been brought on as CEO.
  • Kjaer Weis remains at the helm of product development and creative and remains the second-largest stakeholder in the business. 
  • The brand reports sales up 200 percent year over year, driven by an increase both in its wholesale and direct-to-consumer business.
  • Waldencast Ventures made an initial investment in the brand in March 2020.
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