Stripes Beauty, the brand of film star Naomi Watts, focused on cosmetics for women of menopausal age, belongs to the L Catterton fund, an investment fund of LVMH.
As reported by Cosmetics Business, the US private equity firm has bought Stripes Beauty, founded in 2022. The amount of the deal has not been disclosed by either party.
Stripes Beauty was founded two years ago with the aim of raising the profile of menopause and normalising it, and offers a range of science-based skincare and body care products, as well as a hair care line. Naomi Watts' firm was auctioned off to Sakana LLC last December, after Amyris filed for Chapter 11 bankruptcy protection.
L Catterton's goal now is to expand Stripes Beauty's D2C offering and increase its presence on Amazon, as well as build its audience both in the US and abroad. LVMH's capital fund has also stressed that it will be time to invest in marketing operations, strengthen teams and launch an innovation process, while continuing to serve existing customers and attract new profiles in the luxury segment.
Naomi Watts welcomes this new step for her brand: "This is a very happy moment for Stripes Beauty and I am very grateful to L Catterton for their confidence in the brand and sharing our vision of helping women in menopause". Whitney Casey, who is leading the operation at L Catterton, said that they have seen the potential of Stripes Beauty: "We have seen the success of Stripes Beauty and believe in the brand's mission: to develop a supportive community for women as they age."