In an agreement that gives equity giant Carlyle Group a majority stake, Beautycounter is now valued at $1 billion. This valuation is more than double the company’s last reported estimate, which valued Beautycounter at $400 million in January 2018.
Beautycounter is known for being a mouthpiece for the clean beauty movement, and Founder Gregg Renfrew has lobbied in front of Congress for improved government regulations on personal care products that would keep harmful chemicals out of daily-use items.
“Beautycounter is a pioneer and leader in the fast-growing clean beauty industry, and we see an opportunity to support a talented, founder-led team in amplifying the brand’s mission to change beauty forever,” said Jay Sammons, Head of Global Consumer, Media and Retail for the Carlyle Group.
The company has leveraged a hybrid model that proved to be wildly successful during the pandemic, selling direct-to-consumer through 65,000 consultants, making e-commerce sales through its website and shoppable live-streams, and offering retail shopping through seasonal popups in Sephora and three standalone stores.
“I’m proud that we were able to navigate through the pandemic with a digitally-native mindset, fast-tracking our efforts to find new and innovative ways to enhance the online shopping experience,” Renfrew said. “We’ll continue to do so as we enter this next phase of growth for the company.”