💰🛁 L Catterton bets on bathing
This month, the private equity firm (in which LVMH is a partner) acquired majority stake in Stenders.
Headquartered in Latvia, the bath and body care brand Stenders was founded in 2001 with a focus on ingredients sourced from that same Baltic state and on Latvian bath culture—which according to a media release issued by L Catterton Asia, “dates back centuries as a practice to not only wash the body, but relax and cleanse the mind.”
The investment means that STENDERS will be able to reach more consumers in more markets around the world, China in particular as suggested by Scott Chen, a managing partner at L Catterton, in a recent LinkedIn post.
“This partnership will unlock the next stage of growth for us,” affirms Kristine Grapmane, the brand’s Chief Operating Officer in her remarks to the press.
“We are keen to tap into [L Catterton’s] insights, operating know-how, and network as we continue to expand across various geographies,” she says, adding that, the brand’s “focus will be on enlarging our presence, further enhancing the productivity of our stores, augmenting our ecommerce business, optimizing our manufacturing efficiency, and attracting talent.”
L Catterton is betting on consumer interest in holistic wellbeing, sophisticated bath and body care, natural ingredients, and premium products, according to this month’s media release. And beyond these consumer trends, the firm points to Stenders’ product portfolio of 400+ items; the brand’s revenue figures, which have reportedly increased 20% annually for four years now; an omnichannel retail footprint; “robust same-store-sales growth;” as well as high conversion and repurchase rates—all as reasons for the acquisition.
“Consumers are progressively ‘trading up’ in the bath and body care market,” says Chen, “and we expect the trend to persist as they further gravitate towards such premium products like they have with facial skincare and hand care.”
#beautyindustry
#personalcare
#wellness
Congratulations!!