03.20.22
Lanolips has found an investor. Point King Capital is taking a minority interest in the lip care brand, which is said to have sales of around $10 million. Terms of the deal were not disclosed. Company Founder and CEO Kirsten Carriol will continue to run the company. Tammy Pall will continue as general manager and brand president.
Lanolips markets a range of lanolin-based products. Its best-known formula is 101 Ointment Multipurpose Superbalm ($16.95). Products are available in the US in Ulta Beauty, Anthropologie and Target. The US accounts for 40% of Lanolips’ sales, but the company is available in 3000 doors in 25 countries.
The investment will be used to develop its e-commerce business, and launch new products in skincare. For example, Lanolips is rolling out 101 Dry Skin Super Cream for face and body. The formula is dermatologist-tested. In a hydration study, after just one use there was a 98% increase in skin hydration, according to the company.
This isn’t Point King Capital’s first foray into beauty. The company has invested in Beautychef, Esmi Skin Minerals and Bybi.
Lanolips markets a range of lanolin-based products. Its best-known formula is 101 Ointment Multipurpose Superbalm ($16.95). Products are available in the US in Ulta Beauty, Anthropologie and Target. The US accounts for 40% of Lanolips’ sales, but the company is available in 3000 doors in 25 countries.
The investment will be used to develop its e-commerce business, and launch new products in skincare. For example, Lanolips is rolling out 101 Dry Skin Super Cream for face and body. The formula is dermatologist-tested. In a hydration study, after just one use there was a 98% increase in skin hydration, according to the company.
This isn’t Point King Capital’s first foray into beauty. The company has invested in Beautychef, Esmi Skin Minerals and Bybi.