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Tuesday, May 21, 2024

Monogram Capital Companions acquires majority stake in Tru Perfume & Magnificence

Monogram Capital Companions, a Los Angeles-based non-public fairness agency that invests in shopper manufacturers and providers corporations, has acquired a majority stake in Tru Perfume & Magnificence, a magnificence model builder whose portfolio contains owned, licensed, and unique perfume and sweetness manufacturers bought to nationwide magnificence and attire retailers and direct to shoppers. The partnership builds on Tru’s progress over the previous three years, throughout which the corporate’s owned manufacturers doubled the corporate’s income.

Pushed by a set of fragranced way of life manufacturers that embody Le Monde Gourmand, a Gen-Z favourite which not too long ago launched in 700 Ulta doorways and on Ulta.com, in addition to with ASOS within the UK; fragrance-as-wellness model Lake & Skye; and licensed perfumes and colognes with Yellowstone and Wrangler, Tru’s portfolio has targeted on clear and differentiated formulations and community-driven advertising to capitalize on sturdy tailwinds within the perfume market.

Based in 1969 and purchased by present executives in 2004, Tru Perfume & Magnificence operates out of Willowbrook, IL and New York Metropolis.  Along with the corporate’s branded portfolio Tru additionally develops perfume manufacturers solely for retail companions.

Tru represents Monogram’s seventh funding within the magnificence house previously 5 years. Monogram’s different magnificence investments embody Seaside Home Group, D.S. & Durga, Foundry, Dwell Tinted, Violette_FR, and Prime Matter Labs, a contract producer. Monogam’s funding is meant to speed up Tru’s progress and scale, supporting expanded distribution within the U.S., Canada, U.Okay., Europe, and past, launching new manufacturers and licensing relationships, bringing synergistic model advertising and operational assets, and fostering a continued give attention to expertise growth and complementary acquisitions.

Tru’s Govt Chairman Monte Henige shared, “Our partnership with Monogram isn’t a end result however a furtherance of our imaginative and prescient and mission, affirming our talent-driven tradition and positioning us for even better success.Eric Bilenko, Tru’s Chief Govt Officer, continued, “Monogram’s experience in figuring out and rising revolutionary shopper manufacturers bolsters our personal method to best-in-class shopper experiences within the perfume and sweetness house. We stay up for constructing on our platform by means of accelerated progress of our personal manufacturers, the launch of recent manufacturers, and the addition of strategic acquisitions, leveraging Monogram’s in depth expertise in every of those key areas.

Oliver Nordlinger, Monogram Co-Founder & Accomplice, added, “We’re extremely excited to accomplice with Monte, Eric, and the remainder of the Tru workforce to construct on their spectacular momentum. We consider Tru is differentiated not solely in its skill to determine and construct manufacturers round whitespace alternatives but additionally in its nimble and complex international provide chain and distinctive firm tradition. Whether or not it’s by increasing distribution of current manufacturers, launching new owned or licensed manufacturers or making strategic model acquisitions, we count on Tru’s progress to solely speed up from right here.

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