SAN DIEGO, July 16, 2019 /PRNewswire/ -- Kopari Beauty, the premium coconut-powered lifestyle brand, today announced the closing of a $20 million funding round from notable partners including the Growth Fund of L Catterton, the largest and most global consumer-focused private equity firm, and Unilever Ventures, as well as San Diego-based University Growth Fund, the largest student-run fund in the country, among other investors.
"The continued investment from such formidable firms demonstrates our sustained category dominance and successful market integration with our hero ingredient to reach a wide, and still growing, consumer set," said Bryce Goldman, CEO and Co-Founder of Kopari. "We are thrilled to partner with Unilever Ventures and L Catterton as we reach new heights in the development of our conscious skin, body and personal care products. Most of all, we are excited about the immeasurable value around growth and strategy that both entities bring to the table."
Kopari will use the funding to enhance its commitment to product research and development that utilizes its hero ingredient, coconut, to its most elevated capacity, harnessing all of the multitasking benefits it has to offer. Additionally, the brand will allocate the funding to retail and international expansion, e-commerce improvements for UX/UI and the brand's subscription platform.
"In just a little over two years since our initial investment, Kopari has experienced tremendous growth and demonstrated both strong new product development and potential for global expansion," said Michael J. Farello, Managing Partner of L Catterton Growth Fund. "We are confident in Kopari's ability to maintain its position as a leader of the growing natural beauty and personal care categories and support the brand's mission of providing its global fan base with natural products that fit every aspect of consumers' beauty routines."
"We are excited to partner with Kopari as the brand continues to prioritize developing cleaner, coconut-based personal care products," said Olivier Garel, Managing Director and CEO of Unilever Ventures. "We are hopeful that our work together will help the brand continue to innovate and expand globally in each of its rich, category-specific verticals, spanning from personal care to skincare and beyond."
L Catterton previously invested in Kopari in January 2017, alongside celebrity investors Ashton Kutcher, Mila Kunis, Jared Leto, Karlie Kloss, Hilary Duff and Shay Mitchell. With the support of L Catterton, Kopari has continued its rapid expansion into more than 1,800 brick-and-mortar stores worldwide and develop more than 26 award-winning products across five product lines.
Launched in 2015 as a direct-to-consumer brand, Kopari was founded by Hawaiian-born naturalist and certified-organic chef, Kiana Cabell, third-generation beauty experts and industry veterans, Bryce and Gigi Goldman, and health entrepreneur and Suja Juice co-founder, James Brennan. Kopari products are available for purchase across the United States, Canada, Southeast Asia and Australia in retailers such as Sephora, Ulta, Nordstrom, Urban Outfitters, Riley Rose, Bloomingdale's, and Anthropologie, as well as online at KopariBeauty.com, Amazon, and Revolve.
Say Aloha to Kopari Beauty—a coconut-powered lifestyle-beauty brand based in San Diego. Kopari's coconut oil beauty is powerful beauty. They combine their superfood oil with high-performance ingredients to create natural-born luxury for gorgeous skin and healthy hair. Sustainably manufactured in Southern California, Kopari sources the purest, most nutrient-rich coconut oil from small family farms in the Philippines. Its small-batch coconuts are handpicked at peak quality, never exposed to extreme temperatures and ever-so-carefully cold-pressed. As always, everything from Kopari is free of cruelty, sulfates, parabens, silicone, and phthalates.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of more than 150 investment and operating professional partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
About Unilever Ventures
Unilever Ventures is the venture capital and private equity arm of Unilever. They invest in early stage, promising companies, accelerating growth by providing access to Unilever's global ecosystem, assets and expertise. The fund looks to invest in tomorrow's world-beaters in Personal Care, eCommerce and Digital Transformation. For further information, please visit: www.unileverventures.com.
SOURCE Kopari Beauty