L Catterton takes a minority stake in cosmetics brand Irene Forte

L Catterton is continuing to invest. After acquiring A.P.C last March, the fund co-founded by the LVMH group and the Arnault family is taking a minority stake in Italian cosmetics brand Irene Forte Skincare. The amount of this transaction has not been disclosed, but the aim is to accelerate the international development of the label founded in 2018 by Irene Forte, in the United States and Europe.

“Four years in and we are already a brand with a global presence, thanks to the results of our products that speak for themselves. The support of L Catterton is essential to enable us to compete with the leading brands in our sector, while influencing industry standards and impact,” says Irene Forte, founder and CEO of the brand of the same name.

B-Corp certified, Irene Forte Skincare offers skincare products developed initially for use by spa professionals in the five-star hotels of Rocco Forte, the hotel group founded by Irene Forte’s father. The aim was to meet the demand for natural products with scientific expertise.

The brand then moved into retail, and is now distributed in around a hundred outlets, including Nordstrom, Bergdorf Goodman, Saks Fifth and Le Bon Marché. The line is sustainably produced in small batches, and the main ingredients come from the Forte family’s organic farm in Sicily.

Irene Forte, who does not disclose its sales figures, claims to have recorded 100% year-on-year growth. In the beauty sector, L Catterton has invested in Function of Beauty and The Honest Company.

Last March, Bloomberg revealed that the Rocco Forte Hotels group, owner of some fifteen luxury hotels, was preparing to sell part of its capital to the Saudi Arabian Public Investment Fund (PIF). The deal would involve 49% of the hotel group’s capital and value it at €1.3 billion. In December 2022, the Italian press mentioned the LVMH group, which owns the Belmond hotel and five Cheval Blanc hotels, as a potential buyer.