L Catterton, which previously invested in the K-beauty firm, Clio Co., has made a "significant" capital investment in Kopari Beauty, an e-commerce coconut-oil-based beauty brand. Terms were not disclosed. Kopari has built buzz with investments from high profile individuals such as Karlie Kloss, Shay Mitchell, Hilary Duff, Mila Kunis, and Ashton Kutcher.
The investment follows a general trend in the industry in which digital-first brands are being acquired rapidly. The L Catterton stake will help boost Kopari's U.S. growth and international expansion, as well as investments in R&D and product innovation.
The cash infusion will also boost marketing and inventory in support of Kopari's Sephora presence online and in-store.
Kopari was founded in 2015 and has expanded to QVC, as well as Sephora. Products include Organic Coconut Melt, Coconut Sheer Oil, Coconut Body Glow, Coconut Balm, Coconut Crush Scrub, Coconut Body Milk and Coconut Body Oil.
L Catterton has made previous beauty investmes in Bliss, Cover FX, CLIO Professional, Dr. Wu, Ideal Image, Intercos Group and StriVectin.
"We're incredibly excited to partner with Kopari, a high-growth brand that has established itself as a leader in the natural beauty market by incorporating coconut oil into a broad range of multi-functional products," said Michael Farello, Managing Partner of L Catterton's Growth Fund. "The company is uniquely positioned to meet consumers' increasing desire for natural and efficacious beauty products, and has already garnered a devoted customer following in the year since its founding. We see a significant opportunity to accelerate Kopari's growth and development both in the U.S. and internationally to bring their unique products to customers around the globe."
"This significant investment from L Catterton demonstrates the strong positioning and high performance of our brand," said Kopari CEO, Bryce Goldman. "The investment will allow Kopari to continue our rapid growth and expansion, providing people worldwide with the benefits of coconut oil and cutting edge, multi-purpose formulations that deliver effective results in the safest and most natural way possible. We will be able to accelerate our development of conscious skincare products that are as safe for our skin as they are for the planet. With L Catterton's support, Kopari will have the resources, industry knowledge, and global expertise that we need to take our brand to the next level."
"Expanding our investor partners with this caliber of prestige and Hollywood talent is a strong indicator of Kopari's success," said Kopari co-founder, James Brennan. "Our celebrity investors serve as great validation that we have created something special, and they will help us to elevate Kopari's brand and further connect us with our target consumer."