07.30.24
Winky Lux, a trendsetting beauty brand known for its innovative products and commitment to clean, cruelty-free formulations, has received a majority investment from CORE Industrial Partners. CORE is a private equity firm with over$1.58 billion in capital commitments.
This strategic partnership marks a significant milestone for Winky Lux and provides additional resources to accelerate company growth and expand market reach.
Winky Lux was founded in 2015 and has gained recognition for its playful cosmetic and skincare products. The company has gained a worldwide cult following among beauty enthusiasts with its hero products such as Flower Balm, Universal Brow Pencil, and Peeper Perfect Concealer.
Natalie Mackey, CEO and Co-Founder of Winky Lux, commented,
“Joining forces with CORE is an exciting next step for Winky Lux. This partnership enables us to meet customer demand, scale our operations, maximize existing retailer partnerships with Target, Ulta, and Shoppers Drug, and reach new heights in product innovation. We’re confident CORE’s experience and resources will help us achieve our long-term goals while staying true to our brand values of joy and creativity.”
This investment allows Winky Lux to fund the expansion of both its digital and brick-and-mortar retail channels.
The CEO, Co-Founders, and management team will all remain at the Company. Winky Lux has also appointed industry veterans Zack Zavalydriga and Cassandra Batista to the company’s Board of Directors.
John May, Managing Partner of CORE, said,
“The growth prospects and underlying demand drivers of the beauty industry remain highly attractive and we're confident the strength of the Winky Lux brand combined with our resources and operational experience will assist their leadership team in executing against their long-term plans for growth. We are excited to further our participation in the beauty industry with the Winky Lux partnership.”
CORE entered the beauty industry in 2020 through its investment in Cohere Beauty, a beauty and personal care contract manufacturing platform. The company has positioned itself to enhance Winky Lux’s ability to grow while preserving the brand’s unique identity and joy-focused approach.
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