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Luxury Brand Partners raised $50 million minority investment from Bookend Capital Partners, formerly known as TSG Consumer Partners.
FREMONT, CA: Luxury Brand Partners (LBP), a renowned brand incubator, unique in the beauty space, closes $50 million minority investment from the funding round. The financing round was led by Bookend Capital Partners, an investment fund helmed by Alexander Panos; it was formerly known as TSG consumer Partners. The funds raised will be used for the expansion of the company and the launch of a new brand amidst a strategic and financial partnership with Bookend Capital Partners, whose CEO will join LBP's board of directors, soon.
The minority investment of $50 million is a part of LBP's plans for exponential growth, including various soon-to-be-announced cutting-edge brands as an addition to the company's innovations in the beauty and retail sectors.
"This is such an exciting time for LBP. There is a groundswell of change and newness in the beauty industry - and we love leading the charge in that movement. This collaboration with Bookend allows us to accelerate the development and launch of many groundbreaking concepts," said Tev Finger, founder, and CEO of Luxury Brand Partners. "We have historically been self-funded but found a like-minded and respected partner in Bookend that shared our vision for incubating cult-favorite brands."
"Alex is one of those rare investors who exclusively partners with best-in-class brands that truly engender customer loyalty and his instincts for identifying where the market is going, and the teams that are doing it, are unparalleled," shared Dan Langer, President of R+Co and CMO of Luxury Brand Partners. "I'm beyond excited to work with the Bookend team as we continue to anchor R+Co as the top prestige brand in hair care and expand into new salon-focused categories."
LBP's list of clientele includes major brands such as Oribe Hair Care, Becca, and Pulp Riot. The company supports a diverse collection of industry leaders and artists who work closely with the brand to design and innovate high-performance products with handpicked ingredients from manufacturing to packaging and fragrance.
LBP was officially launched in 2012 and has grown to have offices in major hotspots of the country. It has curated a portfolio of brands with markets in more than 20 countries and has employed over 200 people.
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