Westman Atelier has received a minority investment from Prelude Growth Partners, WWD has confirmed.
The line was started by makeup artist Gucci Westman in 2018, and centers around clean cosmetics. Westman Atelier sells products such as Vital Skin Foundation Stick, $68, Blush Stick, $50, and Beauty Butter Powder Bronzer, $75. The line does not contain parabens, PEGs, phthalates or synthetic fragrances, and is vegan and cruelty-free.
When Westman launched the brand with husband and business partner David Neville, cofounder of Rag & Bone, she planned to target "older Millennials" with her no-makeup makeup aesthetic. The line is sold at Barneys New York, Violet Grey, Mecca in Australia and New Zealand, and online.
The products are meant to marry color cosmetics with skin-care ingredients for "skin-improving performance," according to the company.
"I believe there is a clear space in the market for a luxury brand that also speaks to wellness and integrity," Westman said in a statement. Neville noted that Prelude's beauty experience could help the brand as it continues to grow.
"With Gucci's unparalleled expertise and Westman Atelier's unique products, there is an incredibly strong foundation on which to build an iconic brand that will stand the test of time," said Alicia Sontag, cofounder and partner at Prelude.
The firm was formed by Sontag and Neda Daneshzadeh to invest in consumer companies. Sontag was formerly global president of beauty at Johnson & Johnson and had spent more than a decade at the Estée Lauder Cos. Inc., and Daneshzadeh was a partner at L Catterton, which has done a broad range of beauty and wellness deals. The duo have also invested in 8 Greens, a dietary supplement tablet business.
Westman, who can still be found backstage doing makeup during fashion week and who has held a variety of corporate positions, is one of several modern-day makeup artists to launch her own makeup brand — and the latest to attract outside investment. Charlotte Tilbury and Pat McGrath also have their own lines and their own investors. Tilbury is backed by Sequoia Partners, and said to be in the midst of an M&A process, and McGrath's business is backed by One Luxury Group and Eurazeo Brands, and said to be valued at more than $1 billion.
For more from WWD.com, see:
Beiersdorf to Acquire Coppertone
Natural Acne-Treatment Line BioClarity Raises $13 Million
Source: Read Full Article
Home » Beauty & Balance »