Ilia Beauty inks investment from Silas
Cosmetics company Ilia Beauty announced on Tuesday an investment from Silas Capital, a New York-based emerging growth equity firm.
The investment is expected to allow the clean beauty company, known for its products crafted with certified organic ingredients and non-toxic synthetics, to grow its direct-to-consumer business through new retail partnerships and channels. Terms of the Silas investment were not disclosed.
"Ilia has always been a pioneer in clean color, and the clean beauty movement is clearly happening right now. The capital infusion and new partnership will allow us to do things we've never done before, like marketing and broader brand awareness across digital and retail,” explained Sasha Plavsic, the company's founder, in a news statement.
The Laguna Beach, California-based company, led by Plavsic and Lynda Berkowitz, CEO, offers an assortment of more than 100 products including lipstick, foundation and mascara to name a few.
Ilia Beauty, launched in 2011, is currently sold through more than 500 doors across 30 countries, including in retailers like Credo, Space NK, The Detox Market, Follain, Blue Mercury and industry leader, Sephora.
Clean beauty has gained traction in recent years with more and more brands coming to market with a clean beauty focus. Last year, the natural makeup line, joined Ilia on Sephora shelves, along with other natural brands like Youth to the People and Antonym.
"Ilia is leading the movement towards high-performing makeup that is clean and sustainable,” said Brian Thorne, Partner of Silas.
“Having previously evaluated and invested behind several prestige beauty businesses, we found Ilia to be particularly compelling, given its dynamic founder, product efficacy and strong relationship with Sephora.”
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