Luxury skincare's Tatcha receives minority investment from Castanea Partners
Private equity firm Castanea Partners announced on Monday a minority investment in Tatcha, a luxury skincare brand inspired by Japanese beauty rituals. As a result of the investment, Castanea Operating Partner Janet Gurwitch and Managing Partner Steve Berg will join the Tatcha Board of Directors.
The financial terms of the deal were not disclosed. Founded in 2001, Castanea typically invests $15 to $150 million in businesses. The private equity firm has approximately $1 billion under management and is currently investing from a $600 million fourth fund.
Tatcha is the latest brand to receive an investment from Castanea Partners. The private equity firm has already invested in fashion labels Proenza Schouler, Donald J. Pliner, and Betsey Johnson, jewelry brand Ippolita, and this year invested in The Bruery.
Founded by Victoria Tsai in 2009, Tatcha offers pure and naturally powered serums, moisturizers, mists, exfoliants, and cleansers. Tsai discovered beauty rituals of Japan that are practiced today and unearthed a 200-year-old beauty manuscript detailing the rituals made popular by geisha.
Tatcha gets its name from tachibana, the classical Japanese art of flower arranging that features a single “standing flower.”
Today, the skincare label is available on its website, at Barneys New York, Sephora, Joyce Beauty Hong Kong, Mecca Australia and other domestic and international wholesale and specialty retail stores.
“We're honored to work with Castanea because of their unique experience in building luxury brands in beauty and beyond,” said Vicky Tsai, Tatcha’s CEO. "Steve and Janet are star players in the beauty industry and have a reputation for being great partners. We are also deeply grateful to Financo for bringing us together, and to Vennette Ho for her tireless work to help us find our perfect match."
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