Sarah Broyd Mentioned in Business Insider Article About Top VC Funded Beauty Brands
Clarkston Consulting Associate Partner Sarah Broyd was recently featured in a Business Insider article, “These 14 beauty brands have received the most VC funding — and are revolutionizing the industry with eco-friendly products and DIY salon tools.” An excerpt of the article and link to the full piece are included below.
August 9, 2021 | Durham, NC
Investors can’t stop pouring money into the rapidly growing $380 million beauty industry, which has been dramatically transformed in recent years to meet shifting consumer interests and demand.
More than ever, today’s shoppers are looking for eco-friendly, ethical, and sustainable products. They also have a vested interest in science-backed beauty endorsed by medical professionals and “do-it-yourself” tools that allow users to replicate spa services at home, according to Sarah Jindal, an associate director of global beauty and personal care at the market-research firm Mintel.
Sarah Broyd, an associate partner and the leader of the beauty and personal-care practice at Clarkston Consulting, also told Insider that interest in areas like clean beauty — nontoxic products made with organic and environmentally friendly ingredients — and skin care were accelerated by the pandemic as homebound Americans became increasingly focused on wellness.
“When you look at the beauty and personal-care companies garnering interest from investors, each of them seems to be tapping into the current market trends to varying degrees,” Broyd said.
Here are 14 US beauty brands capitalizing on these trends, which have also brought in the most venture-capital funding since their founding, according to PitchBook.
The 14 brands mentioned are as follows: BeautyKind, Carreira Beauty, Befine Group, Nécessaire, Love Sun Body, Tria Beauty, Madison Reed, FutureDerm, PS Lifestyle, Theraplex, The Detox Market, Moody Beauty, Travel Beauty, and Juice Beauty. For more information and insights on these brands, read the full article on Business Insider here.
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