Yes To gets $56 million from Viking Global Investors
Early this year Yes To took on an $8m asset-based line of credit, as Cosmetics Design reported. That funding was allocated for company growth. This latest investment will be used for another purpose.
Money matters
According to a recent company press release “the Yes To board selected Viking to provide partial liquidity to existing shareholders” —$56m in liquidity to be exact.
“We welcome Viking to the Yes To shareholder group and look forward to working with them alongside existing investors including San Francisco Equity Partners and Simon Equity Partners,” Scott Potter, Yes To board chairman and San Francisco Equity Partners managing partner, commented in the release.
Who’s in charge
“With our talented CEO Ingrid Jackel at the helm, Yes To is enjoying exceptional growth as a category leader and innovator in the natural beauty market,” Potter tells the press.
Ingrid Jackel joined Yes To in 2015. Previously she worked as president of Physicians Formula, a brand that was at the time, one of the fastest growing at mass beauty businesses. When she accepted the CEO role at Yes To nearly 2 years ago, Jackel quipped, "How could I not say 'Yes To' this tremendous opportunity to nurture and expand such a unique and forward thinking brand?”
In her remarks to the press, Jackel went on to describe the company as “a natural, on-trend, relevant yet irreverent platform that will be the ideal stage for first-to-market concepts and best in class innovation,” adding that she was “extremely excited to share my passion for innovation and 20 years of experience with the entire Yes To team.”
Natural growth
Yes To specializes in natural personal care and has product lines for facial skin care and cleansing, body care, hand care, hair care, lip care, and baby care, as well as a men’s collection. More distinctive perhaps is that, as Cosmetics Design has noted before, “Nearly all of the products have a hero ingredient derived from a fruit or vegetable. There are lines defined by tomatoes, carrots, coconuts, blueberries, cucumbers, and grapefruit.”
The company describes itself as “a leader in innovative, natural beauty products that are 95% and more natural and 100% fun!” And, its products are in line with the current made-without movement too, which has formulators developing products without parabens.
