Summer Fridays, the ‘clean’ beauty brand founded by lifestyle influencers Marianna Hewitt and Lauren Ireland, has secured investment from TSG Consumer Partners.
Under the deal, Hewitt and Ireland will retain a significant stake in Summer Fridays and continue to lead the company.
Prelude Growth Partners, which provided Summer Fridays’ first outside capital in 2019, will exit its investment in the Los Angeles-based brand.
Summer Fridays began as a skin care company in 2018 and is best known for its Jet Lag Mask – a hydrating multi-purpose mask and moisturiser.
Since launch, it has expanded into lip care, sun care, hybrid make-up and body care.
According to Summer Fridays, the new partnership will support its growth initiatives while maintaining its core brand and products.
These initiatives will encompass continued product development, brand building and geographic expansion, said the brand.
“Summer Fridays is truly one-of-a-kind in the beauty industry,” commented Colin Welch, Managing Director and Head of the New York and London Offices at TSG.
“It is a lifestyle brand that has built unparalleled consumer love through a focus on gently effective, intuitive and easy-to-use products.
“We are honoured to partner with Marianna, Lauren and the entire Summer Fridays team to build upon the company’s success and to help further expand the brand globally.”
Hewitt and Ireland added that “TSG has an extensive record of growing consumer brands in beauty and can support our expansion with their digital, operational and consumer insights capabilities”.
The Californian private equity firm’s prior investments include cosmetics players Huda Beauty, IT Cosmetics and Revolution Beauty.
