IT Cosmetics has received a welcome financial boost from an investment firm to expand its range of products in the US as the multi-purpose trend begins to really take off.
TSG Consumer Partners, a leading strategic equity investor in high-growth consumer brands, announced a minority equity investment in the rapidly growing beauty brand in order to enhance its product portfolio and reach new heights.
Having done its due diligence on the company prior to investment TSG says that it is the opportunities presented by the popular multi-purpose product trend that was most appealing.
"We continue to see a trend in multi-purpose cosmetics lines where products don't just cover imperfections but nourish and improve the skin as well," says Blythe Jack, Managing Director at TSG Consumer Partners.
"IT Cosmetics falls squarely within this growing category as its products offer anti-aging benefits in addition to aesthetic improvements. This made the brand particularly appealing to TSG, in addition to the charismatic leadership and vision of its founders, Jamie and Paulo."
Investment opens up opportunity
The investment has been met with open arms by IT Cosmetics due to TSG’s investment history and experience and the US firm now hopes it can push on and grow, in light of the deal.
"What is happening at IT Cosmetics is truly special. The engagement level, passion and experiential resonance our customers have with our brand is amazing and we are thrilled to partner with TSG to help strategically optimize this in a meaningful way,” says Jamie Kern Lima, founder of IT Cosmetics.
Jamie Kern Lima founded the company in 2008 with and Paulo Lima, and the company was developed to deliver anti-aging, color-infused skin care products.
Primarily distributed on QVC and The Shopping Channel, the brand is now expanding to Ulta Beauty stores this month.
To increase IT Cosmetics' growth, TSG will help the brand focus on a variety of initiatives including the expansion of the product portfolio, penetration into the US specialty beauty channel and increased brand marketing to drive overall awareness.