Yahoo Finance L Catterton Acquires Naomi Watts’ Stripes
L Catterton is partnering with actress Naomi Watts to acquire her menopause-care brand Stripes Beauty.
Stripes was founded by Watts in collaboration with Amyris in 2022. When the latter filed for Chapter 11 bankruptcy, Stripes headed for the auction block and was sold for $500,000 to Sakana LLC in December with the “Mulholland Drive” and “King Kong” actress listed as managing member.
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“This is an exciting moment for Stripes Beauty, and I’m grateful to L Catterton for believing in our brand and sharing our vision of supporting women in menopause,” said Watts. “Stripes Beauty’s mission, products and community are deeply meaningful to me, and I’m thrilled to partner with L Catterton, [which] is also dedicated to providing solutions to this underserved community.”
“As consumer-focused investors, we have followed the success of Stripes Beauty and believe in their mission to develop a community of support for women as they age,” added Whitney Casey, who led the deal for L Catterton. “We are proud to invest in women and contribute to developing a health platform to address the full range of women’s unique lifestyle needs. Led by a team of strong industry experts, we will nurture and grow the Stripes Beauty brand, its community and consumer loyalty.”
Under this new partnership with Watts, of which financial terms were not disclosed, L Catterton has tapped Debra Perelman, the former Revlon CEO, as executive chair, while Cara Kamenev, a former L’Oréal executive, has been named president.
Stripes Beauty will also expand into sleep support with The Dream Date, a clinically backed supplement featuring melatonin, magnesium and red clover. Additionally, along with scaling on its own website and on Amazon, the brand will launch at QVC and in Canada later this year.
Currently, Stripes is available on Amazon, sephora.com and direct-to-consumer. Products include Vag of Honor Intimate Hydrating Gel, Oh My Glide Intimate Play Oil, and Dew As I Do Ectoine + Vit C Brightening & Hydrating Cream.
L Catterton has invested in the likes of Tula, Oddity, The Honest Company and Nutrafol, and has been particularly active in the beauty space as of late. In April, it acquired a majority stake in Italian cosmetics brand Kiko Milano. The private equity firm also launched Elevate Beauty, a fund developed within L Catterton’s Growth Fund dedicated to investing in early-stage beauty businesses. Three recent L Catterton investments — cosmetics brand Dibs Beauty; plastic surgeon founded skin care line Eighth Day, and Irene Forte Skincare, a natural skin care label — will sit within Elevate Beauty.
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