Investment firm L Catterton has acquired a majority stake in Californian beauty and wellness brand Stripes Beauty. Financial terms of the deal have not been disclosed.
Stripes Beauty, founded in 2022 by actress Naomi Watts in partnership with biotech company Amyris, aims to normalize conversations about menopause and other symptoms associated with natural hormonal changes as women age. The brand offers personal care and beauty products in categories such as nutritional supplements, skincare, haircare, and vaginal wellness, primarily through traditional e-commerce and Amazon.
In December 2023, Stripes Beauty was sold at auction to Sakana LLC after Amyris filed for Chapter 11 bankruptcy.
With this acquisition, L Catterton plans to build on the brand’s initial success by accelerating growth both domestically and internationally. The firm intends to invest in marketing, expand the team, develop an innovation pipeline, and service existing and new customers in the attainable luxury channel.
To reinforce its position in menopause symptom solutions, Stripes Beauty is expanding into sleep support with the launch of The Dream Date, a clinically-backed supplement featuring melatonin, magnesium, and red clover. Additionally, the brand will scale up its direct-to-consumer operations and presence on Amazon, and is set to launch on QVC and in Canada later this year.
L Catterton has also announced new leadership for the brand, with Debra Perelman, former Revlon CEO, appointed as Executive Chair, and Cara Kamenev, former L’Oréal executive, as President.
“We have followed the success of Stripes Beauty and believe in their mission to develop a community of support for women as they age,” said Whitney Casey, who led the deal for L Catterton. “We are proud to invest in women and contribute to developing a health platform to address the full range of women’s unique lifestyle needs. Led by a team of strong industry experts, we will nurture and grow the Stripes Beauty brand, its community, and consumer loyalty.”
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