L Catterton makes additional investment in Ben & Frank
Investment giant L Catterton announced on Tuesday an additional investment in direct-to-consumer omnichannel eyewear brand, Ben & Frank.
Following L Catterton's initial investment in 2021, this new funding is expected to further help to fuel Ben & Frank's continued growth and expansion across Latin America.
"This additional investment from L Catterton provides significant growth capital that will allow us to continue advancing our goal of disrupting the industry through our seamless omnichannel experience and customer-centric strategy," said Mariana Castillo, co-CEO of Ben & Frank.
"This investment will support our efforts to keep increasing our store footprint at an accelerated pace for both of our brands, Ben & Frank and Bombavista, driving further awareness and establishing us as the leading eyewear brand in Latin America," added Eduardo Paulsen, co-CEO of Ben & Frank.
Ben & Frank was founded in 2015 with the mission to offer fashionable and high-quality prescription glasses and sunglasses at accessible prices, through its DTC model. Since 2021, the eyewear brand has demonstrated strong growth and profitability, almost tripling its store footprint. It has equally improved its e-commerce platform and customer experience.
Julio Babecki, a partner in the Latin America Fund of L Catterton, said, "Ben & Frank has an incredibly strong brand identity and passionate customer base. We are proud of the tremendous growth and profitability that they have demonstrated since our initial investment in 2021.”
Farah Khan, a managing partner in the Latin America Fund of L Catterton, added, "We are delighted to continue supporting the whole Ben & Frank team along its journey to transform the consumer eyewear industry, and we see massive growth potential and opportunities for innovation ahead.”
L Catterton has previously invested in brands in Latin America including Petlove, Cholula, Femme, Rapsodia, and Bodytech, among others. Meanwhile, its current and past investments in the optical space include FYidoctors, Owndays, and Gentle Monster.
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