Today, according to Business of Fashion, L Catterton, a private equity firm under LVMH, is acquiring a minority stake in the luxury skincare brand Eighth Day through its platform, Elevate Beauty. This investment will help the brand expand its management team, diversify its product offerings, and strengthen its global influence.
Eighth Day was founded by dermatologist Dr. Antony Nakhla in 2018. The brand gained attention in 2021 when it collaborated with Violet Grey to launch a regenerating serum, and it has since expanded its product range to include eye creams and cleansers. It is worth noting that this minority stake acquisition by L Catterton marks the brand’s first external funding.
Nakhla, the founder and CEO of Eighth Day, stated, “L Catterton’s capital and expertise will bring our brand into the luxury market and provide an opportunity for the brand to scale.”
It is noteworthy that in the past half-month, L Catterton has announced the acquisition of a minority stake in the Swedish haircare brand Maria Nila and the luxury skincare brand Eighth Day. Additionally, on September 16, L Catterton’s first RMB fund and CITIC CLSA Capital jointly led the investment in Jiangsu Chuangjian Medical Technology Co., Ltd.
