New York, NY (March 13, 2018) – Surratt Beauty, a luxury, color cosmetics brand created by visionary & celebrity makeup artist Troy Surratt, announced today that it has received an investment from 2x Consumer Products Growth Partners (2x Partners), a leading private equity investor in the emerging consumer products space, and AHR Growth Partners (AHR), an investor and advisor to emerging consumer brands.
Founded in 2013, Surratt Beauty is known for its high degree of artistry, innovation and Japanese influence. The brand offers a line of superior products, including eye, lip, face and tools, meticulously sourced from Japan after Surratt’s global search to discover the best. Today, the brand is sold across a variety of premier beauty retailers, including Barneys NY, Liberty of London, MECCA in Australia, Space NK and select Sephora and Bluemercury locations.
“I believe today’s consumer should have the very best, and our mission is to deliver the sophistication and quality that Japanese cosmetics are known for. We are honored to work with 2x Partners and AHR to help support and accelerate the brand,” said Surratt, founder.
Joining Surratt Beauty is Heidi Manheimer, previously Chief Executive Officer of Shiseido Cosmetics USA, as Executive Chairman, and Joyce Avalon, most recently Chief Merchant at Space NK, as President. Manheimer, a longtime friend and mentor to Surratt, added, “I am eager to partner with Troy and the team to help take the brand to the next level. Everyone is going after the Millennial today, but at the same time, you have the luxury customer who is looking for something new, and Surratt fills that.”
“We are thrilled to partner with Surratt Beauty because of our belief in Troy’s artistry, the award-winning products that he has created and his commitment to innovation and creativity. Together with Troy, Heidi, AHR and the rest of the team, we look forward to growing Surratt Beauty into a leader in luxury color cosmetics,” said Sharon Kieffer, a Managing Partner at 2x Partners.
John Bahr, Managing Partner at AHR noted, “We are impressed by Surratt’s Japanese approach to beauty, and are excited to partner with 2x Partners and the team to help Surratt become a leader in the luxury space.”
Terms of the investment, which was led by 2x Partners, were not disclosed.