Fake tan, but real money - Coco & Eve receives $100 million investment from a US private equity firm

A Texan private equity company called Gauge Capital has invested $100 million into Coco & Eve to help it expand globally.

What's the key learning?

Consumers are continuously looking for alternative products in the market, so beauty brands are not just limited to Korean or Japanese brands.
Nowadays, Gen Z's are more conscious towards their purchases and prefers cruelty-free and vegan products, which products like Coco & Eve are marketing.
Social media platforms like TikTok also helped in boosting product awareness which further drove sales for indie brands, so we'll most likely see a few more names entering the global market.

👉 Background: Coco & Eve is a beauty brand that was founded in Melbourne back in 2018. It sells hair products, self-tanning products and $40 shampoos, or liquid gold some call it. Coco & Eve has grown their social media profile to millions, with thousands of TikTok users doing product reviews.

👉 What happened: Now, a Texan private equity company called Gauge Capital has invested $100 million into Coco & Eve to help it expand globally. While we don’t know the valuation, we do know that they took a majority stake of the business.

👉 What else: This major investment continues a range of Australian beauty brands being recognised on the global stage.

What's the key learning?

💡Move over Korea and Japan – Australia has become the new beauty industry hotspot.

💡For years K-beauty (for Korea) and J-beauty (for Japan) have been the leaders in the skincare world. But Australian beauty has become the next in line. In fact, aside from Coco and Eve, we’ve Bondi Sands sold to Japan’s Kao Corporation for $450 million and Aesop was acquired by L’Oréal for $3.7 billion over the past couple of years.

💡The global beauty industry is expected to reach $580 billion by 2027, so it'll be no surprise to see other Aussie beauty brands make big announcements as well.

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Fake tan, but real money - Coco & Eve receives $100 million investment from a US private equity firm

What's the key learning?

What's the key learning?

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