The Honest Company, founded by actress Jessica Alba, has received a US$200m strategic minority investment from private equity firm L Catterton.
The funds will be used to support the lifestyle and beauty company’s innovation initiatives, supply chain and global reach.
The Honest Company has expanded its beauty offering over the past few years, building on its momentum in the clean and natural products sector, under the leadership of CEO Nick Vlahos.
He said: “We will continue to execute against our strategy, which includes focusing our business on the baby and beauty categories.
“This investment will enhance our next chapter and accelerate the realization of our vision for the future.”
Meanwhile, Alba added: “It has always been my dream to grow The Honest Company into a global brand.
“Our mission from day one has been to empower people to live happy and healthy lives, and we are always in search of new ways to bring that to life.
“This partnership will enable us to empower more people in more places by delighting them with products that meet their desire for safety, design and performance.”
L Catterton is an experienced beauty industry investor, with stakes in US make-up brand Il Makiage, probiotic skin care brand TULA and coconut-based brand Kopari.
Formed by LVMH, Groupe Arnault and Catterton in 2016, L Catterton is also the parent company of spa products brand Elemis.
Scott Dahnke, Global Co-CEO of L Catterton, said: “The Honest Company has tremendous brand equity, innovative and quality products, and a loyal customer following.
“The Honest Company has evolved into a lifestyle brand and has many channels to grow in natural baby, personal care, beauty and adjacent categories in the future.”