L Catterton, which previously invested in Kopari, Bliss, Cover FX, Frederic Fekkai, StriVectin, Dr. Wu, Ideal Image, Intercos Group and the K-beauty firm, Clio Professional, has invested in hot indie probiotic prestige skin care brand Tula to drive "rapid growth" by supporting marketing and product development funding. Tula was founded three years ago by gastroenterologist and internist Dr. Roshini Raj, Bobbi Brown co-founder Ken Landis and tech entrepreneur Dan Reich.
According to the brand, "By harnessing powerful 'good bacteria,' the [Tula probiotic] technology uses the topical application of probiotics to protect the skin to be more resistant to damaging environmental conditions and combat age-related changes." Tula now retails via QVC and SpaceNK.
"We see a tremendous opportunity to accelerate Tula's growth by capitalizing on its innovative formulations, strong relationship with QVC, distinctive and digital-first positioning, and talented management team."
"We are very excited to work with L Catterton as we continue our rapid expansion to become the leader in probiotic skin care," said Julia Straus, CEO of Tula. "With the support of L Catterton, we are excited to reach even more consumers through QVC's multi-platform retail model, our own direct channel, and unique partnerships with retailers like SpaceNK. L Catterton brings deep knowledge of the consumer space and an unparalleled track record helping boutique beauty brands thrive and grow. We are confident they will be an excellent long term partner for Tula."
"Tula appealed to us because it is the first premium beauty brand to leverage probiotics across its entire product line," said Jon Owsley, co-managing partner, L Catterton Growth Fund. "We see a tremendous opportunity to accelerate Tula's growth by capitalizing on its innovative formulations, strong relationship with QVC, distinctive and digital-first positioning, and talented management team. We look forward to leveraging our experience to help drive TULA's success for years to come."
"In 2016, Tula generated a 78% increase in distinct customers, exceeding our expectations," said Rachel Ungaro, vice president of buying for apparel, accessories, beauty and jewelry, QVC. "Tula has also generated an impressive following on Beauty iQ, QVC's new multiplatform network dedicated to beauty lovers, as one of a select group of brands providing a discovery experience on the platform."
