Norwest Venture Partners invests in body sculpting beauty brand MAËLYS
“We are in a unique position to cement our place as the leader in the body care market by introducing a one of a kind product innovation pipeline, utilizing a data-driven approach, while also building a strong following,” says Rom Ginzburg, CEO at MAËLYS in his recent remarks to the press.
And he adds, “We’re excited to join forces with Norwest as we move on to the next phase of growth for MAËLYS.”
Body contouring beauty products, an emerging category picks up momentum
The body sculpting, contouring, skin fitness, and full-body antiaging category has been growing steadily, albeit somewhat quietly, for years. In 2018, for instance Cosmetics Design shared news of a new brand in the body contouring category called Cheeky Physique.
Now brands like Perricone MD, Vaseline, Kahina Giving Beauty, and Clarins all sell body serums and many other brands and products are on the market today encouraging consumers to lift, firm, smooth, and contour every area of the body with products that were once only made for facial skin care routines.
And with this latest beauty investment, Norwest Venture Partners is in the body contouring business too.
MAËLYS and NVP team up to grown the popular body-positive beauty brand
Norwest Venture Partners (NVP) is a venture and growth equity firm based in Palo Alto, California. Founded in 1961, the firm backs some of the most well-known new brands in the sharing and DTC economy, including Uber, Casper, Spotify, Imperfect Foods, Calm, and Talkspace.
In beauty and personal care, NVP has invested in the hair color company Madison Reed and in PCA Skin, a brand now owned by Colgate-Palmolive that made news here on Cosmetics Design in 2020 for its at-home micro peel kit (one of many 2020 launches help beauty service clients bring the spa or salon experience home).
Sonya Brown, a General Partner at Norwest, has been with the firm for 10 years and was instrumental in the PCA Skin investment and subsequent acquisition. She also serves the team at Madison Reed as a Board Observer.
Commenting on the MAËLYS investment, Brown tells the press, “We see a tremendous opportunity for MAËLYS to build upon its recent momentum by continuing to disrupt the body care market of beauty and personal care with its authentic, inclusive brand.”
“Rom and his team have done amazing work with their fresh product formulations, body positive ethos, and bespoke customer experience,” she says. “Together, we believe our partnership will drive MAËLYS to even greater heights of success.”