Shields added: “The reason this partnership is so special is because Jeff is a product-first CEO and I’m a business-first creative.”Catterton previously partnered with Tula, a probiotic, superfoods-based skin care line, in 2017. It was acquired last year by Procter & Gamble for an undisclosed amount.
The brand launched with its first retailer, Revolve, in July 2022, and next up will be brick-and-mortar expansion. “We are planning on brick-and-mortar in the near future,” Lee added. “The brand has received an enormous amount of inbound interest from major retailers over the past few months, and our priority is selecting the right partner to grow together the way we have with Revolve.”
He declined to comment on sales projections, but sources expect it to bring in between $15 million to $20 million in revenue on direct-to-consumer alone. According to the company, it has grown more than 450 percent year-over-year through selling directly to consumers on their own website.. L Catterton purchased the brand as part of its 2015 acquisition of Steiner Leisure.