Katherine Power, co-founder of popular fashion website Who What Wear, has achieved a major milestone with her minimalist beauty brand, Merit. The brand recently secured a $20 million investment in a Series A funding round led by private equity firm L Catterton, with support from luxury conglomerate LVMH. This infusion of capital will be used to fuel Merit’s expansion into new product categories and to further develop its color cosmetics collection.

Courtney Nelson, vice president at L Catterton, will join Merit’s board of directors as part of the funding round. Other notable investors include Marcy Venture Partners and Sonoma Brands. This financial backing will provide Merit with the necessary resources to continue its growth trajectory.

What sets Merit apart is its simplified approach to beauty. The brand aims to cater to busy individuals by offering a “five-minute morning” color cosmetics assortment. Since its launch in January 2021, Merit has gained significant traction, thanks to its direct-to-consumer strategy and aggressive retail expansion. It has already established a presence in Sephora stores across the United States and Canada, as well as in select Sephora at Kohl’s locations.

Katherine Power is no stranger to success in the digital realm. In addition to co-founding Who What Wear, she has also founded Versed, a skincare brand. Power has a strong entrepreneurial background and has even ventured into the wine industry through her collaboration with actress Cameron Diaz on the natural wine label, Avaline. With her expertise and the support of L Catterton, Power is confident about Merit’s ability to serve consumers in various aspects of their beauty and self-care routines.

L Catterton’s involvement in the funding round is particularly significant. The private equity firm has extensive experience in the beauty and personal care category, with investments in prominent brands such as Tula, Il Makiage, Function of Beauty, Elemis, and Jessica Alba’s The Honest Company. This partnership will undoubtedly provide Merit with valuable insights and guidance as it continues to navigate the competitive beauty industry.

In conclusion, Merit’s $20 million funding round led by L Catterton and backed by LVMH marks a major milestone for the minimalist beauty brand. With plans to expand into new product categories and enhance its color cosmetics collection, Merit is well-positioned to continue its success in the beauty market. With Katherine Power at the helm and the support of experienced investors, Merit is set to make a significant impact in the industry.

Useful links:
Merit Beauty Official Website
L Catterton Official Website