Kopari closes $20 million Series A funding round, thanks to L Catterton, Unilever Ventures, and others
L Catterton is the world’s largest private equity firm in consumer goods and is a partnership between LVMH and Groupe Arnault. The firm first invested in Kopari in 2017 as part of a venture round. That money supported Kopari’s early retail expansion—the brand is now sold in nearly 2,000 stores globally—as well as new product development.
In a press release issued in January 2017, Kopari also noted that the investment would go toward ensuring the success of the brand’s new partnership with Sephora: “This growth capital will also be used to advance investments in marketing and inventory in an effort to support the retail partnership with Sephora, having recently launched on their website in October 2016, and expanding to brick-and-mortar locations nationwide this month.”
L Catterton invests again
Michael J. Farello, managing partner of L Catterton Growth Fund, explains why the firm is putting even more money behind the brand saying, “In just a little over two years since our initial investment, Kopari has experienced tremendous growth and demonstrated both strong new product development and potential for global expansion.”
“We are confident in Kopari’s ability to maintain its position as a leader of the growing natural beauty and personal care categories and support the brand’s mission of providing its global fan base with natural products that fit every aspect of consumers’ beauty routines,” says Farello in this week’s media release about the brand’s Series A funding round.
What’s next for Kopari
Kopai has close to 30 products (and several bundles) in its portfolio of skin care, personal care, body care, and sun care. And some of the $20 million dollars the company secured in this round of funding will go toward developing more coconut oil – based beauty products.
The money will also allow the brand to better its online retail and subscription platform, including improvements in user interface (UI) and user experience (UE), according to the media release.
Kopari CEO Bryce Goldman sees the investments as an endorsement of Kopari’s market potential: “The continued investment from such formidable firms demonstrates our sustained category dominance and successful market integration with our hero ingredient to reach a wide, and still growing, consumer set,” he tells the press.
“We are thrilled to partner with Unilever Ventures and L Catterton as we reach new heights in the development of our conscious skin, body and personal care products,” says Goldman, adding, “Most of all, we are excited about the immeasurable value around growth and strategy that both entities bring to the table.”
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.
