Stripes Beauty brand launched by actress Naomi Watts in 2022 has been acquired by investment firm L Catterton.

The company said in a release that Stripes Beauty was founded by Watts with the mission to normalise conversations about menopause and other symptoms associated with natural hormonal changes as women age. Since its creation, Stripes Beauty has established its business through traditional e-commerce and on Amazon.

"This is an exciting moment for Stripes Beauty, and I'm grateful to L Catterton for believing in our brand and sharing our vision of supporting women in menopause," said Naomi Watts.

With the capital support of L Catterton, the company added, Stripes Beauty will continue to build on this success by accelerating growth both domestically and internationally, fueling marketing investments and team expansion.

"We are proud to invest in women and contribute to developing a health platform to address the full range of women's unique lifestyle needs. Led by a team of strong industry experts, we will nurture and grow the Stripes Beauty brand, its community, and consumer loyalty," added Whitney Casey, who led the deal for L Catterton.

Stripes Beauty plans to expand into sleep support with The Dream Date, a clinically-backed supplement featuring melatonin, magnesium, and red clover to help one sleep. Additionally, along with scaling in DTC and on Amazon, the brand will launch at QVC and in Canada later this year.

The company further added that L Catterton will fuel the brand's growth under the new leadership of executive chair Debra Perelman, former Revlon CEO and president Cara Kamenev, former L'Oreal executive, both of whom bring extensive experience in beauty, strategy, retail, and operations.