LOS ANGELES, Nov.16, 2018 /PRNewswire/ -- Today, premiere hair extension brand Bellami Hair announced a $20 million investment from Cathexis Holdings LLP with a further $100 million capital commitment for growth. The move will aid Cathexis in acquiring a minority interest in Bellami Hair LLC, the world's largest hair extension brand. As a result of this effort, Cathexis' Multi-Billion dollar fund will now be a significant player in the $84 Billion per year beauty industry.
Bellami hair was started in 2012 by the founding duo Julius Salerno and Nikki Eslami. They grew their business by providing only the best quality products while simultaneously having an eye for influencers who move the needle for consumers. They continually elevated the brand by working with personalities like Guy Tang and Kylie Jenner. Bellami increased their breadth of offerings in 2018 by launching their Bellami Professional products and education for stylists in addition to expanding their Bellami Beauty Bar brick and mortar retail salon concepts, which encompasses an experiential space for both retail and salon. Bellami is building a community of professional stylists and re-imagining the world of hair extensions and their accessibility for all.
The brand currently operates locations in six major North American markets to include West Hollywood, Houston, Miami, New York, Las Vegas and Vancouver, BC. Reflecting on the brand's trajectory, Julius Salerno stated, "Bellami has achieved incredible growth with zero outside funding or debt." The CEO and Co-Founder continued, "Now, imagine our capabilities with a $100 Million to strategically invest and an equity partner as aggressive as us when it comes to the continued dominance of this market."
"We've experienced immense success in our current Bellami Beauty Bar locations not only from a growth perspective but also branding," said Nikki Eslami. "After this investment, we look forward to opening new localities including London, Paris, Dubai and Sydney, and to bringing the same quality products and services to new territories in 2019 and 2020." In addition to new openings, the brand plans to support their Bellami Professional Hair Extensions and Education initiative. The program continues to expand rapidly across the United States and into Europe and Asia.
Cathexis is a multi-strategy holding company based in Houston, Texas with investments ranging from real estate and energy to private equity. "Our venture with Bellami Hair LLC represents our continued interest in working with companies that operate in industries with high CAGR's," said William Harrison, founder of Cathexis, when explaining the first foray outside of their traditional portfolio. "Our investments only consider industry titans and Bellami has proven to be a fearless leader in their category," he concluded.
About Bellami From its California headquarters, Bellami designs iconic hair products which it markets in partnership with the top beauty influencers in the world to its platform of digital consumers and through its Bellami Beauty Bar. The Las Vegas Bellami Beauty Bar just recently opened and is the sixth location following Los Angeles, Houston, Miami, New York, and Vancouver, BC. Bellami will continue to emphasize influencer endorsements while reaching into more traditional channels, such as professional salons and specialty beauty stores.