Cosmetics: L Catterton acquires a stake in sustainable brand Irene Forte

L Catterton, the fund of Lvmh and the Arnault family, has taken a minority stake in the sustainable cosmetics brand owned by the Forte family, owners of a luxury hotel group.

 

After fashion, beauty… L Catterton continues to invest in growth companies.

 

Four months after acquiring a stake in the ready-to-wear and accessories brand A.P.C, the fund co-founded by LVMH and the Arnault family has just taken a minority stake in the Italian skincare brand Irene Forte Skincare.

 

The amount of the transaction has not been disclosed.

 

The idea is to give the brand, founded in 2018 by Irene Forte, the means to accelerate its international expansion in the United States and Europe, while beefing up its team, strengthening relations with its current partners, opening up its activities to other points of sale and investing “significantly” in e.commerce.

 

Around a hundred points of sale

 

Irene Forte originally created the brand for the spas of the five-star hotels owned by Rocco Forte, the hotel group founded by her father, of which she is Director of Wellbeing. But her B-Corp-certified products, which combine natural products and scientific expertise, have also found their way into around a hundred points of sale, including some of the most discerning department stores (Le Bon Marché, Bergdorf Goodman, Liberty London, Nordstrom, Saks Fifth Avenue…).

 

The brand’s DNA – sustainable production in small batches, sourcing most of its ingredients from the Forte family’s organic farm in Sicily – has hit the mark.

 

Her pistachio face mask, hibiscus serum and prickly pear face cream now have their fans. And while Irene Forte doesn’t say how much it weighs, the brand reports 100% year-on-year growth.

 

“After four years, we’re already a brand with a worldwide presence, thanks to the results of our products, which speak for themselves. The support of L Catterton is essential to enable us to compete with the leading brands in our sector, while influencing industry standards and impact,” said the brand’s eponymous founder and CEO.

 

Lvmh interested in Forte family hotels

 

This is not the first foray into cosmetics for L Catterton, who is already present at American companies Function of Beauty (a specialist in customisable hair products) and The Honest Company (organic products for children and the home). In fashion, L Catterton has invested in the famous Birkenstock sandals, French down jacket manufacturer Jott and Italian women’s fashion brand Ganni.

 

Lvmh isn’t just interested in the Forte family’s cosmetics. Last March, Bloomberg revealed that the Rocco Forte Hotels group, owner of some fifteen luxury hotels, was preparing to sell 49% of its capital to the Saudi Public Investment Fund (PIF), which would value it at €1.3 billion. But before that, in December 2022, the Italian press had mentioned the LVMH group, itself owner of the Belmond hotel and five Cheval Blanc hotels, as a potential buyer….

 

Read also > > LVMH: possible IPO for Birkenstock at over $6 billion

Featured photo : © Press

Picture of Sophie Michentef
Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

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