Recently, L Catterton announced it is partnering with actress Naomi Watts to acquire her menopause-care brand, Stripes Beauty. Stripes was founded by Watts in collaboration with Amyris in 2022. Following Amyris’ Chapter 11 bankruptcy filing, Stripes was auctioned and sold for $500,000 to Sakana LLC in December, with Watts listed as the managing member.
“This is an exciting moment for Stripes Beauty, and I’m grateful to L Catterton for believing in our brand and sharing our vision of supporting women in menopause,” said Watts. “Stripes Beauty’s mission, products, and community are deeply meaningful to me, and I’m thrilled to partner with L Catterton, which is also dedicated to providing solutions to this underserved community.”
Whitney Casey, who led the deal for L Catterton, added, “As consumer-focused investors, we have followed the success of Stripes Beauty and believe in their mission to develop a community of support for women as they age. We are proud to invest in women and contribute to developing a health platform to address the full range of women’s unique lifestyle needs.”
Under the new partnership with Watts, whose financial terms were not disclosed, L Catterton has appointed Debra Perelman, former Revlon CEO, as executive chair, and Cara Kamenev, a former L’Oréal executive, as president. L Catterton, a private equity firm with a robust portfolio in the beauty sector, has previously invested in brands such as Tula, Oddity, The Honest Company, and Nutrafol. Recently, it acquired a majority stake in Italian cosmetics brand Kiko Milano and launched Elevate Beauty, a fund within L Catterton’s Growth Fund dedicated to investing in early-stage beauty businesses. Elevate Beauty’s portfolio includes recent investments in Dibs Beauty, Eighth Day, and Irene Forte Skincare.
