Investment firm L Catterton has acquired a majority stake in California-based beauty and wellness brand Stripes Beauty. Financial details of the business were not disclosed.
Founded in 2022, Stripes Beauty was founded by actress Naomi Watts in partnership with biotech company Amyris with a mission to normalize conversations about menopause and other symptoms that come with natural hormonal changes as women age. The consumer brand offers personal care and beauty products across a variety of categories, including nutritional supplements, skin care, hair care and vaginal health. Stripes Beauty has operated through traditional e-commerce and Amazon.
In December 2023, after Amyris filed for Chapter 11 bankruptcy, Stripes Beauty was sold at auction to Sakana LLC.
With this acquisition, L Catterton intends to accelerate its growth both domestically and internationally and build on the brand’s early success. L Catterton said it will drive marketing investment and team expansion, develop its innovation pipeline, and serve existing and new customers in the affordable luxury channel.
To strengthen its position in solutions for menopausal symptoms, Stripes Beauty is expanding into sleep support with the launch of The Dream Date, a clinically-backed supplement with melatonin, magnesium and red clover. Additionally, in addition to its DTC and Amazon presence, the brand will launch on QVC and in Canada later this year.
L. Catterton also announced new leadership for the brand, Debra Perelman (former CEO of Revlon) was appointed executive chairman. Carla Kameneff (a former L’Oreal executive) was appointed president.
“We’ve been following the success of Stripes Beauty and believe in their mission to build a supportive community for older women.” Said Whitney Casey, who led the L. Catterton deal.We are proud to invest in women and contribute to the development of a wellness platform that addresses all of a woman’s unique lifestyle needs. Led by a team of talented industry experts, we will nurture and grow the Stripes Beauty brand, its community and consumer loyalty.“
