iNNBeauty Project Closes Minority Investment to Support Nationwide Sephora Launch and Fuel Growth
10/12/2021 - 08:00 AM
Next-Gen Skincare Brand Raises Capital Led by Strand Equity and Beechwood Capital
NEW YORK --(BUSINESS WIRE)--
iNNBeauty Project Strand Equity and Beechwood Capital Sephora . Terms of the transaction were not disclosed.
iNNBeauty Project represents the culmination of over 30 years of combined experience from its co-founders, Alisa Metzger and Jen Shane . Shane brings over 15 years of product innovation and formulation experience from beauty industry leaders including Bare Essentials, Tarte Cosmetics, Tula and TATCHA , where she worked on formulating top products such as bareMinerals Complexion Rescue, Tarte Amazonian Clay Foundation , and TATCHA Silken Pore Perfecting SPF. Shane’s products have won over 20 beauty industry awards including Allure Best of Beauty Hall of Fame . While at Tula, Shane met Metzger, who led the brand’s marketing team and helped launch the brand nationwide at ULTA Beauty in over 1,200 stores.
In 2019, the two joined forces to launch iNNBeauty Project after identifying a void in the beauty space for clean and efficacious skincare that was affordable to younger consumers. Consumers responded, fueling iNNBeauty Project towards 300% year-over-year growth and gaining the attention of Sephora . Now available in all 490 Sephora stores, 200 Sephora x Kohl’s stores and Sephora online, iNNBeauty Project seeks to continue its meteoric rise.
iNNBeauty Project’s products Slushy, Pimple Paste, Down to Tone, and most recent success Green Machine, have received awards and accolades such as Glamour’s Reader’s Choice Award 2021 , Real Simple Smart Beauty Awards 2021 , Women’s Health Beauty Awards 2021 , PopSugar Clean Beauty Awards , Women’s Health 2020 Best Skincare Award and AskMen Grooming Award .
“The beauty editor community is notoriously difficult to impress, so the reason we are receiving so much support is because our products truly perform,” said Shane, Co-Founder of iNNBeauty Project . “At iNNBeauty Project , we custom build every formula from the ground up and take a holistic and creative approach to helping each skin concern. I thoroughly research the latest active ingredients and manufacturing processes and review medical journals to find proven ingredients often overlooked by skincare brands. This gives our products the superior efficacy, innovative textures, and ingredient stories that consumers are actively looking for. I am passionate about making high-quality, clean formulations with exceptional efficacy accessible to a wider audience. Quality skincare shouldn’t have to be reserved for special occasions.”
Metzger and Shane are passionate about building a brand with heart. iNNBeauty Project is proud to be one of beauty industry’s first “plastic negative” brands via a partnership with rePurpose Global to remove more plastic than the brand produces. As a women-owned brand, iNNBeauty Project has made supporting diverse communities and causes a priority since launch. iNNBeauty Project has supported Rainbow Railroad , The UNCF, and Girls Write Now, among others, on its journey thus far, and the company looks forward to increasing its impact for years to come.
“Our time is now! With the omnichannel expansion into Sephora and Sephora x Kohl’s we have an incredible opportunity to become a household name. We are committed to investing in People, Product, and Process. Bringing on key roles in operations and finance, as well as investing in marketing, will allow us to flawlessly execute our Sephora launch and introduce our brand to millions of consumers,” said Metzger, Co-Founder of iNNBeauty Project. “Our emphasis on innovation is always at the heart of everything we do; we will continue to amplify our core products and blow consumers away with new formulations. Jen and I are thrilled to have Strand Equity and Beechwood Capital as our partners. They have incredible knowledge of the beauty space and acutely understand the power of Sephora . Their confidence in and support of our vision will help our push into new retail doors, allowing us to become more accessible to the masses.”
"iNNBeauty Project is showing the beauty industry that clean, effective skincare can also be kind to your wallet and the planet. We’re incredibly thrilled to partner with Alisa, Jen, and their growing team as they build the next iconic beauty brand,” said George Song , Vice President at Strand Equity.
“Beechwood Capital is excited to partner with i NNBeauty Project Sephora and Sephora X Kohl’s,” states Larry Kahn , Managing Partner, Beechwood Capital . “We were blown away by Alisa and Jen’s vision, the brand’s unique selling proposition, and believe that the roster of products fill a long-standing gap in the market for truly efficacious, simple ritual-based skincare products at an accessible price point.”
About iNNBeauty Project
Founded by two beauty industry veterans, INNBEAUTY PROJECT stands for skincare without compromise, so you can have it all – effective, clean & sustainable, without breaking the bank. We take every step possible to cut out the middleman and avoid spending on things that don't matter (like a fancy office) so we can pass along the savings to our customers. Our products stand up to the best-of-the-best when it comes to efficacy & quality, while being a fraction of the price. For more information, please visit www.innbeautyproject.com .
About Strand Equity
Strand Equity is a Los Angeles -based growth equity firm investing in the next generation of iconic consumer brands and services. Strand is led by a team of experienced and successful investors and entrepreneurs. With a permanent capital base, Strand maintains a flexible approach to structure and partnership, enabling dynamic entrepreneurs and management teams to accelerate growth and build durable businesses. Current and realized investments include Youth To The People, Oatly , Studio McGee, Real Good Foods , Bai Brands , Sweaty Betty, HUM Nutrition and Vita Coco , among others. For more information, please visit: https://strandequity.com/ .
About Beechwood Capital
Beechwood Capital invests in unique, disruptive early and growth stage consumer brands. Founded by former entrepreneurs and experienced operators, Beechwood is ideally positioned to invest in other strong entrepreneurs who are creating the next generation of consumer brands. Current and realized investments include Banza, Flying Embers, Kosas Cosmetics, Once Upon a Farm, Shani Darden Skincare and Tatcha , among others. For more information, please visit: http://beechwoodcap.com/ .
View source version on businesswire.com : https://www.businesswire.com/news/home/20211012005173/en/
Alicia O'Connell
aoconnell@konnectagency.com
Source: iNNBeauty Project
