The funding round, which saw a host of celebrities including model Karlie Kloss and actors Mila Kunis and Ashton Kutcher make undisclosed investments, will help to propel Kopari’s continued growth, as well as drive product innovation.
“We’re incredibly excited to partner with Kopari, a high-growth brand that has established itself as a leader in the natural beauty market by incorporating coconut oil into a broad range of multi-functional products,” explained Michael Farello, Managing Partner of L Catterton’s Growth Fund.
Launched in the US in late 2015 as a direct-to-consumer brand, Kopari Beauty has experienced exceptional growth by harnessing digital and social platforms to garner brand awareness and build a network of loyal customers and fans. The brainchild of chef Kiana Cabell, Suja juice co-founder James Brennan and beauty expert Bryce Goldman, the brand uses 100 percent organic virgin coconut oil as the basis of all its products.
Having enjoying a surge in popularity thanks to the wide range of health benefits associated with the ingredient, in just one year, Kopari has left a sizable footprint on the digital landscape and has taken its business into traditional commerce channels, including QVC and a national partnership with Sephora.
According to market research company Technavio, the organic virgin coconut oil segment dominated the virgin coconut oil market during 2016, accounting for a major part of the overall market share. Demand it expects to increase across the globe over the next five years.
In a bid to leverage the forecasted trajectory, Kopari Beauty plans to expand its current portfolio via the launch of its first skin care line, as well as grow its current retail partnership with Sephora. Having launched on the beauty retailer’s website last October, moving forward Kopari’s products will be stocked at all of Sephora’s brick-and-mortar locations nationwide.
Farello believes that Kopari Beauty is uniquely positioned to meet consumers’ increasing desire for natural and efficacious beauty products. And, having already garnered a loyal following in the year since its founding, L Catterton’s investment presents a significant opportunity to accelerate its expansion both in the US and internationally.
With added support from high-profile investors, Kopari co-founder, James Brennan argues that the brand will be able to further connect with its target consumer and solidify itself as a market leader.