06.22.18
Anastasia Beverly Hills has a new backer -- private equity firm TPG Capital, which has also invested in Rodan + Fields and e.l.f. cosmetics.
The terms of the deal were not disclosed, but WWD reports that sources say the company was being valued at as much as $3 billion.
The brand has built a huge following on social media -- and has grown because of it, which was an attractive asset to investors, experts say. Many Influencers adore the brand's makeup.
Anastasia Beverly Hills has stated the company plans to expand, globally. Business of Fashion reports: "As part of its digital strategy, Anastasia will be courting customers through new features like videos and how-to-tutorials on product pages as well as better mobile integration..."
Claudia Soare, president of Anastasia and daughter of the founder, tells BOF, "We really want to ramp up the Anastasia Beverly Hills website. It’s hard when we compete with our own retailers that have amazing footprints. We want to find smarter ways for consumers to come to us.”
Anastasia was founded by Anastasia Soare in 1997. Soare quickly became known as the "eyebrow guru" in fashion circles, and built a celebrity following for her expertise in eyebrow shaping. The brand has expanded from brow products to makeup.
