TSG takes minority stake in IT Cosmetics
The US beauty brand just entered Ulta
US based private equity firm TSG Consumer Partners has made a minority equity investment in beauty brand IT Cosmetics. The brand was founded in the US in 2008 by Jamie Kern Lima and Paulo Lima, who sought to develop a colour cosmetics line with anti-ageing and skin care benefits. The brand is sold on QVC and The Shopping Channel, as well as Ulta stores in the US.
"We continue to see a trend in multipurpose cosmetics lines where products don't just cover imperfections but nourish and improve the skin as well," said Blythe Jack, Managing Director at TSG Consumer Partners. "IT Cosmetics falls squarely within this growing category as its products offer anti-aging benefits in addition to aesthetic improvements. This made the brand particularly appealing to TSG, in addition to the charismatic leadership and vision of its founders, Jamie and Paulo."
TSG is currently focused on helping IT Cosmetics grow through its product portfolio, penetration into the US specialty beauty channel and increasing brand awareness.
TSG is currently focused on helping IT Cosmetics grow through its product portfolio, penetration into the US specialty beauty channel and increasing brand awareness. Other beauty brands within TSG's portfolio include Alterna, Perricone MD, e.l.f Cosmetics and Sexy Hair.