Dibs Beauty receives investment from L Catterton

Dibs Beauty, a vegan, cruelty-free colour cosmetics brand, has raised “significant growth capital investment” from global consumer-focused investment firm, L Catterton.

The make-up brand launched in September 2021 to deliver elevated and multi-purpose make-up essentials to the busy beauty consumer. Its hero product is the Desert Island Duos, with bronzer on one side and blusher on the other, which has sold out six times in less than a year and a half and has grown more than 450 percent year-over-year through its own website.

Originally launched as a direct-to-consumer brand, Dibs Beauty partnered with retailer Revolve in July 2022 and has become one of the website’s fastest-growing beauty brands.

Its investment from the L Catterton Growth Fund will help the brand expand its digital channels as well as launch into brick-and-mortar retailers.

Jeff Lee, chief executive and co-founder at Dibs Beauty, said in a statement: "Dibs is about elevating beauty essentials for consumers who range from 0 to 100 in terms of make-up knowledge. We have reached this milestone well ahead of expectations, and L Catterton has the expertise and agility to help us become the leader in multifunctional, effortless make-up.

“Our make-up goes where our customers go, and we intend to meet them both across our rapidly expanding digital channels and in brick-and-mortar retailers.”

Jon Owsley, co-managing partner of the L Catterton Growth Fund, added: "Dibs Beauty is a highly distinctive brand that has quickly established a reputation for offering approachable, multifunctional make-up essentials that resonate with its customers.

"We are thrilled to once again partner with Ken and Dan who are proven entrepreneurs in beauty as well as Courtney and Jeff, who are uniquely suited to drive growth in this digitally native brand. We look forward to leveraging our expertise in beauty to support the company's ambitious expansion strategy."