Winky Lux to Grow Retail Reach Following Core Industrial Partners' Majority Stake

Of the deal, CEO and co-founder Natalie Mackey says, "The investment allows us to increase velocity in our existing retailers and expand internationally in two years."Winky LuxPrivate Equity firm Core Industrial Partners has acquired a majority stake in nine-year-old Winky Lux; the investment will reportedly provide the brand with the resources to speed up growth and expand its market reach. Terms of the transaction were not disclosed.

Of the deal, CEO and co-founder Natalie Mackey says, "The investment allows us to increase velocity in our existing retailers and expand internationally in two years."

Moving forward, Winky Lux will expand its digital and brick-and-mortar retail channels.

While its co-founders, CEO and management team will remain in place, Winky Lux has brought on Zack Zavalydriga and Cassandra Batista to its board of directors.

Core's previous industry deals include its 2020 investment in contract manufacturer Cohere Beauty.

Staying True to Winky Lux's Joy and Creativity

Mackey, adds, “Joining forces with Core is an exciting next step for Winky Lux. This partnership enables us to meet customer demand, scale our operations, maximize existing retailer partnerships with Target, Ulta and Shoppers Drug, and reach new heights in product innovation. We’re confident Core's experience and resources will help us achieve our long-term goals while staying true to our brand values of joy and creativity.”

John May, managing partner of Core, said, “The growth prospects and underlying demand drivers of the beauty industry remain highly attractive and we're confident the strength of the Winky Lux brand combined with our resources and operational experience will assist their leadership team in executing against their long-term plans for growth. We are excited to further our participation in the beauty industry with the Winky Lux partnership.”