Merit has received a minority investment from investment firm Semcap’s Beauty & Wellness vertical to fuel the next stage of growth for the US minimalist brand.
The investment was led by Vasiliki Petrou, Managing Partner at Semcap Beauty and Wellness, who was also the founder and ex-CEO of Unilever Prestige.
Although the exact funding amount was not disclosed, the investment will fuel the brand’s ongoing growth and globalisation goals.
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Petrou, who has more than 30 years of experience in the beauty industry, will join Merit’s Board of Directors.
She founded the Unilever Prestige division in 2014, leading the acquisition and growth of a portfolio of brands including Dermalogica, Paula's Choice, Hourglass, Tatcha and K18, before departing in June 2024 after a decade at the helm.
“Merit is one of the most thoughtfully built brands in beauty, a true icon in the market,” said Petrou.
“I love the timeless brand aesthetic, the simplified and edited approach to beauty, and the focus on the millennial and Gen X consumer, which is a significant white space in our industry.”
Merit Beauty was established in January 2021 by founder Katherine Power, before launching in the UK in February 2022.
The brand has become best known for products such as foundation-concealer combo The Minimalist, blush Flush Balm, and tinted lip oil Shade Slick.
Philippe Pinatel, CEO of Merit, added: “We are honoured to have Vasiliki Petrou join the Merit Board of Directors.
“Merit has seen significant growth over the past few years, and Vasiliki’s industry-defining experience will be an invaluable asset as we continue to invest in the long-term future of the business.
“Her perspective on brand equity, financial performance, and operations perfectly aligns with our dedication to intentionality and excellence.”
Petrou partnered with investment firm Semcap to lead its vertical focused on beauty and wellness in March 2026.
The vertical targets “influential investments in high-growth, breakthrough products, services and technologies that support the modern consumer’s beauty and wellness goals”, Semcap said in a statement at the time.
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