Dive Brief:
- Stripes Beauty, the wellness lifestyle brand founded by actress and women’s health advocate Naomi Watts, has been acquired by private equity firm L Catterton, according to a company press release.
- As part of the deal, Stripes Beauty has named ex-Revlon CEO Debra Perelman as its executive chair. Cara Kamenev, a former L’Oréal executive, was also named president.
- With the new investment, Stripes Beauty will expand into sleep support products with the launch of Dream Date, a natural supplement featuring melatonin, magnesium and red clover. The company also plans to expand its presence on Amazon and its own DTC channels, as well as launch on QVC and in Canada later this year, per the announcement.
Dive Insight:
The acquisition of Stripes Beauty signals a new chapter for the young company.
Launched in 2022, Stripes Beauty was created to help normalize conversations women might have about menopause and other age-related hormonal symptoms. Stripes Beauty markets science-backed personal care and beauty products, including nutritional supplements, skin care, hair care and vaginal wellness.
"This is an exciting moment for Stripes Beauty, and I'm grateful to L Catterton for believing in our brand and sharing our vision of supporting women in menopause," Watts said in a statement. "Stripes Beauty's mission, products, and community are deeply meaningful to me, and I'm thrilled to partner with L Catterton, who is also dedicated to providing solutions to this underserved community."
Stripes Beauty was previously owned by synthetic biotechnology company Amyris, which filed for bankruptcy last August. Amyris last December sold Stripes Beauty to Sakana for $500,000. In addition to Stripes Beauty, Amyris’ portfolio also previously included brands like Biossance and Jonathan Van Ness’ JVN.
For its part, L Catterton has invested in a large number of emerging and established consumer brands. Some of those include Boll & Branch, Birkenstock, Ganni and Hanna Andersson.
"As consumer-focused investors, we have followed the success of Stripes Beauty and believe in their mission to develop a community of support for women as they age," Whitney Casey, a partner who led the deal for L Catterton, said in a statement. "We are proud to invest in women and contribute to developing a health platform to address the full range of women's unique lifestyle needs. Led by a team of strong industry experts, we will nurture and grow the Stripes Beauty brand, its community, and consumer loyalty."
