US investment firm takes majority stake in Coco & Eve 

Texas-based private equity firm Gauge Capital has acquired a majority stake in beauty brand Coco & Eve for more than $100 million.

Founded in 2018 by Emily Hamilton and her husband Alexander Ostrowski, Coco & Eve offers a range of hair, self-tan and body care products. The company sources ingredients from Bali, Indonesia and claims to be 100 per cent clean and cruelty-free.

The brand sells directly to consumers and through retailers including Sephora, Boots, as well as at Myer, Adore Beauty and The Iconic. It also focuses on selling through TikTok outside of Australia, with best sellers including Like A Virgin Hair Masque and Sunny Honey Bali Bronzing Foam.

Coco & Eve is under the umbrella of Supernova, a consumer retail platform based in Singapore that was co-founded by Hamilton. 

Following the deal, Hamilton will continue to lead Coco & Eve. According to the Australian Financial Review, the brand is on track to top $120 million in revenue in the 12 months to December 31, a 35 per cent increase year on year. The company also expects profit with no debt.

Last year, Bondi Sands was sold to Japan’s Kao Corporation for $450 million and Aesop was acquired by L’Oréal for $3.7 billion.

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