LCatterton, which was formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault., is said to be largest consumer-focused private equity firm in the world.
"This significant investment from L Catterton demonstrates the strong positioning and high performance of our brand," said Kopari CEO Bryce Goldman. "The investment will allow Kopari to continue our rapid growth and expansion, providing people worldwide with the benefits of coconut oil and cutting edge, multi-purpose formulations that deliver effective results in the safest and most natural way possible. We will be able to accelerate our development of conscious skincare products that are as safe for our skin as they are for the planet. With L Catterton's support, Kopari will have the resources, industry knowledge, and global expertise that we need to take our brand to the next level."
The company has also captured the eyes and wallets of Hollywood elite. Among those who have joined this investment round include Karlie Kloss, Shay Mitchell, Hilary Duff, Mila Kunis, and Ashton Kutcher.
According to the company, the capital raised both from L Catterton and the celebrity investors will help propel Kopari's continued growth throughout the US and expansion into international markets, as well as drive Kopari's continued R&D and product innovation.
The funds will also be used to advance investments in marketing and inventory in an effort to support its current retail partnership with Sephora and expansion to brick-and-mortar locations nationwide this month, according to the firm.
Launched in late 2015 as a direct-to-consumer brand by founders Bryce and Gigi Goldman, Kiana Cabell and James Brennan, the San Diego-based company has experienced exceptional growth by harnessing digital and social platforms to garner brand awareness and build a network of loyal customers and fans.
Kopari plans to expand its product assortment with its first skin care line.