LB Equity has invested in Herb Essentials, a "cannabis-centric, lifestyle beauty brand" founded in 2015 by Robert Lund and Ulrika Karlberg. LB Equity's portfolio, backed by a $50 million Emerging growth Fund, also includes Marula, Immunocologie and Intelligent SkinSense.
The latest investment will enable Herb Essentials to expand its product assortment and launch an omnichannel growth strategy.
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LB Equity Emerging Growth Fund’s initial investment was in Standard Dose, which offers hemp-based cannabinoid beauty products. Standard Dose opened its first brick-and-mortar location, in New York City, earlier this year.
Herb Essentials products include facial moisturizer, body lotion, lip balm, candles, fragrances and a CBD-infused elixir. The products range in price from $12 to $65 and are made with organic ingredients.
Herb Essentials products are currently available online and in more than 100 brick-and-mortar locations across the United States, Canada, Europe and Australia.
“We are focused on partnering with dynamic, visionary entrepreneurs and brands that set the bar high, use the highest-quality ingredients and add distinct value to the consumer experience,” said Jay Lucas, managing partner of LB Equity. “Herb Essentials is a perfect fit for us. The company has a strong, skilled founding management team and we’re very confident in their vision and ability to continue to successfully execute the brand’s distinguished growth strategy, which includes introducing new products made with different cannabis-derived ingredients, elevating the consumer-cannabis relationship and further expanding the brand’s distribution through e-commerce, independent boutiques and larger, strategically aligned retail partners in the United States and internationally.”
“We’re extremely pleased to be partnering with LB Equity as we continue to grow our brand and execute our omnichannel strategy,” said Lund. “Herb Essentials is one of many entities that are currently starting to normalize the relationship between people, manufacturing industries, the retail industry and the cannabis plant. Our goal is to be present wherever the customer is—from curated, independent beauty and fashion boutiques to spas, yoga studios, and wellness and meditation centers, as well as online through both our own web store and our selected online partners’ sites.”