L Catterton invests nearly $30 million in Il Makiage
The pro makeup company itself has in recent years made a concerted effort to leverage its brand heritage, product line, and retail presence to become a global cosmetics player. “When I acquired IL MAKIAGE a few years ago, I had a clear vision for the future – to build a global, professional, high-end makeup brand,” explains, Oran Holtzman, CEO of Il Makiage, in a recent press release.
Along the way the company has “invested significant resources to further develop IL MAKIAGE, building a state of the art R&D division, enhancing our product offering, and creating a unique shopping experience in our mono-brand makeup boutiques,” adds Holtzman.
Now L Catterton, the world’s largest consumer-focused private equity firm, has put $29m into the brand to further Il Makiage's objective of being a global beauty leader. “We are thrilled to partner with L Catterton and are confident that the firm's unparalleled experience in building premium brands and global expertise make L Catterton the ideal partner for us,” says Holtzman. “This significant investment indicates a tremendous expression of confidence in the brand, its positioning, the management team, and above all, the products and their uncompromising quality.”
L Catterton is, of course, the private equity firm formed just last year by LVMH, Groupe Arnault, and Catterton. The firm and controls more than $14bn of equity capital. Funding prestige beauty is part of the firm’s strategy. And, L Catterton has to date invested in manufacturers and brands including the probiotic product line TULA, Bliss, Cover FX, CLIO Professional, Intercos Group, and StriVectin.
“Oran and his talented team have reinvigorated the brand on the strength of IL MAKIAGE's rigorous R&D process, professional quality products and personalized customer experience. We see significant opportunity to expand this successful formula in the United States by driving brand awareness and leveraging IL MAKIAGE's high-touch, experiential retail model,” Michael Farello, co-managing partner of the L Catterton Growth Fund, tells the press.
Farello conveys that the firm is “excited to partner with IL MAKIAGE," which he describes as "a rapidly growing brand with a distinct heritage that is uniquely positioned at the intersection of luxury and professional color cosmetics.”