L Catterton invests $200 million in The Honest Company
The Honest Company announced it has received a $200 million strategic investment from consumer-focused private equity firm L Catterton. Honest Beauty will roll out in 7 European countries starting next spring.
Commenting on the investment in a release, The Honest Company CEO Nick Vlahos said, “We will continue to execute against our strategy, which includes focusing our business on the baby and beauty categories," adding, "This investment will enhance our next chapter and accelerate the realization of our vision for the future.”
The investment will be used to globally scale the brand by opening new distribution channels and expanding market opportunities. The first distribution step the company is taking includes an exclusive retail distribution partnership with Douglas, the top beauty retailer in Europe with more than 2,500 stores.
The full Honest Beauty line will be sold in seven European countries starting in spring 2019.
Scott Dahnke, Global Co-CEO of L Catterton added, “The Honest Company has evolved into a lifestyle brand and has many channels to grow in natural baby, personal care, beauty and adjacent categories in the future."
The Honest Company is on track to release 80 new baby and beauty products by the end of the year. Under Vlahos' leadership, the company has shown double-digit growth of its diaper business and has already doubled its retail distribution.
The Honest Company will continue to operate out of its LA headquarters with its existing leadership team.
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