L Catterton has significant experience investing in the beauty space, including investments in Bliss, Cover FX, CLIO Professional, Dr. Wu, Ideal Image, Intercos Group and StriVectin. Hollywood celebrities have also joined in this investment round, including Karlie Kloss, Shay Mitchell, Hilary Duff, Mila Kunis and Ashton Kutcher.
"This significant investment from L Catterton demonstrates the strong positioning and high performance of our brand. The investment will allow Kopari to continue our rapid growth and expansion, providing people worldwide with the benefits of coconut oil and cutting edge, multipurpose formulations that deliver effective results in the safest and most natural way possible,” said Kopari CEO Bryce Goldman. “We will be able to accelerate our development of conscious skincare products that are as safe for our skin as they are for the planet. With L Catterton's support, Kopari will have the resources, industry knowledge and global expertise that we need to take our brand to the next level."
The growth capital will also be used to continue Kopari's R&D and product innovation, as well as to advance investments in marketing and inventory in an effort to support its retail partnership with Sephora; on whose website it launched in October 2016. The funding will also contribute to the digitally native e-commerce company’s expansion to brick-and-mortar locations nationwide.
"Expanding our investor partners with this caliber of prestige and Hollywood talent is a strong indicator of Kopari's success," said Kopari co-founder James Brennan. "Our celebrity investors serve as great validation that we have created something special, and they will help us to elevate Kopari's brand and further connect us with our target consumer."
"We're incredibly excited to partner with Kopari, a high-growth brand that has established itself as a leader in the natural beauty market by incorporating coconut oil into a broad range of multifunctional products," said Michael Farello, managing partner of L Catterton's Growth Fund.
Kopari launched in late 2015 as a direct-to-consumer brand by co-founders Bryce and Gigi Goldman, Kiana Cabell and James Brennan. The San Diego-based company has experienced exceptional growth by harnessing digital and social platforms to garner brand awareness and build a network of loyal customers and fans. In just one year, Kopari left a sizable footprint on the digital landscape and took its business into traditional commerce channels, including QVC and a national partnership with Sephora. In 2017, the brand will launch its first skincare line.
The 100-percent organic coconut oil-based beauty brand has an existing seven-product lineup of multitasking and bodycare products, including Organic Coconut Melt, Coconut Sheer Oil, Coconut Body Glow, Coconut Balm, Coconut Crush Scrub, Coconut Body Milk and Coconut Body Oil. All products are specifically designed to leverage the natural benefits of coconut oil and are free from sulfates, silicones, parabens, GMOs and other harmful ingredients.
[Image courtesy of Kopari Beauty]