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New York, NY, USA
Major Products: Cosmetics—Orveon; Fragrance—Parfums de Marly; Hair care—Olaplex, Skala; Pest Control—LBS Hygiene
New Products: Lola from Rio (acquisition).
Comments: Advent International, a private equity group, plays in five markets: business and financial services, consumer, healthcare, industrial and technology. Founded in 1984, Advent has 16 offices on five continents, oversees more than $91 billion in assets under management and has made 430 investments in 44 countries. The company ranks within the top 10 PE firms in the world, according to Private Equity International.
After less than a year on the job, in February, Orveon CEO Neela Montgomery left the company.
In June, Skala and Lola From Rio, combined to create one of the largest beauty groups in Brazil. Together, they have about $360 million in annual sales and can be found in 54% of Brazilian households and more than 80 countries.
According to Advent, Skala and Lola have highly complementary portfolios, yet there are similarities. Both promote conscious beauty and offer 100% vegan products. Together, they have more than seven million social media followers. Both brands will continue to operate independently from their headquarters in Rio de Janeiro, Uberaba and São Paulo. But they will begin to share manufacturing infrastructure, distribution networks and innovation investments.
Skala’s product portfolio delivers quality at an affordable price. It is the No. 1 brand in liters sold of hair care products in Brazil (with over 18% market share) and the market leader in hair treatment creams, present in 76% of the country’s points of sale. The company has grown at a rate of 30% a year over the past eight years, according to Advent. This expansion is also evident abroad—international sales now account for more than 20% of total revenue, with notable growth in the US.
Lola From Rio is known for being innovative, humorous and full of attitude. Founded in 2011, it was one of Brazil’s first vegan beauty brands and a pioneer of other trends in the segment. Lola has grown its revenue more than sixfold over the past six years, securing a strong presence in e-commerce, department stores, pharmacies and beauty retailers. Lola operates across all beauty categories.
By: Melissa Meisel
A new report from HypeAuditor highlights the top fastest-growing beauty brands on Instagram.
Beauty products highlight eyes, lips and face looks on the runway.
Gender neutrals and clean scents influence both men's and women's fragrances.
Fragrance Group International's Beauty U Beauty Symposium examined what drives innovation in beauty and what supports its staying power in a changing environment.
By: Nancy Jeffries
The lightweight leave-in oil lightly scented with calming lavender makes dry hair shinier and more moisturized without greasy residue.
By: Lianna Albrizio
Ecolab researchers patent a new idea in cleaning.
HeatBounce is a weightless cream-to-mist that shields up to 450°F and delivers instant conditioning and detangling.
The retail debut will feature a curated assortment of its best-selling products.
The ‘clean’ formula is powered by a peptide-rich lash serum that delivers instant lift, length and volume while supporting visibly longer, fuller and stronger lashes in six to eight weeks.
Seen, a patented hair and skin care brand, debuts with Frizz + Repair Treatment Mask.
The ‘Spider Man’ actor embodies the eau de parfum by exuding quiet confidence, playful wit and a magnetic individuality.
The data-driven brand is entering the category with six mists: three new scents and three body mist renditions of bestsellers in the brand’s EDP portfolio.
The supplier has achieved a higher EcoVadis score than last year.
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