L Catterton, the US private equity firm, has invested in Italian skin care brand Irene Forte Skincare.
Founded in 2018 by Irene Forte, wellness director of the Rocco Forte Hotels chain, the brand was originally developed for use in the hotel’s spas.
The brand will use the minority investment, whose terms were not disclosed, to fuel its expansion into Europe and the US.
This includes expanding its team, growing relationships with current retail partners and expanding into more bricks-and-mortar locations.
It will also invest “significantly” in its D2C business, where it reported a 50% customer retention rate among e-commerce shoppers.
Irene Forte Skincare has reported 100% year-on-year growth and is available at department stores including Saks Fifth Avenue, Liberty London and Le Bon Marche.
Bestsellers include Pistachio Face Mask, Hibiscus Serum and Prickly Pear Face Cream, with all products said to be sustainably produced with ingredients from the Forte family’s organic farm in Sicily.
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The latest investment continues L Catterton’s long track record of backing up-and-coming beauty brands, including the likes of Merit, Oddity, Elemis, India’s Sugar Cosmetics and Jessica Alba’s The Honest Company.
It most recently invested in luxury make-up brand Dibs Beauty this April.