Maëlys Receives Minority Investment From Norwest

MAËLYS was founded in 2017.
MAËLYS was founded in 2017.

Maëlys has announced that it received a minority investment from Norwest, a global investment firm.

Previously: Eurazeo Invests in Aroma-Zone

The investment will support Maëlys’ rapid international growth, help scale operations to meet increasing consumer demand, launch new products and expand the team globally.

Sonya Brown, Norwest general partner, will join Maëlys’ board of directors.

The brand has reportedly achieved a revenue run rate of $100 million, representing 400% year-over-year growth.

Norwest will join the current shareholders that include Barinboim Group, the controlling shareholder of the company and a leading private equity firm founded by Zvika Barinboim, Leumi Partners, a global merchant and investment banking platform, and Maëlys' founders.

Some of the brands Norwest has invested in include Casper, Jet, Spotify, Uber, Kendra Scott, Madison Reed and PCA Skin.

“We’re excited to join forces with Norwest as we move on to the next phase of growth for Maelys,” said Rom Ginzburg, Maelys CEO. “We are in a unique position to cement our place as the leader in the body care market by introducing a one of a kind product innovation pipeline, utilizing a data-driven approach, while also building a strong following. We look forward to working alongside Norwest, as their deep knowledge in the consumer space makes them the ideal partner for us.”

Sonya Brown, general partner, Norwest, said, “We see a tremendous opportunity for Maelys to build upon its recent momentum by continuing to disrupt the body care market of beauty and personal care with its authentic, inclusive brand. Rom and his team have done amazing work with their fresh product formulations, body positive ethos, and bespoke customer experience. Together, we believe our partnership will drive Maelys to even greater heights of success."

More in News