10.26.22
Patrick Ta Beauty has a new financial backer. Stride Consumer Partners has taken a minority stake in the business founded by professional makeup artist Patrick Ta. Terms of the deal were not disclosed. Industry sources predict Patrick Ta Beauty's 2022 sales will reach $30 million.
This isn't Stride's first foray into beauty. The private equity firm was an early investor in Tatcha, Skinfix, First Aid Beauty and Drybar.
The announcement comes at a time when interest in indie beauty and color cosmetics remains high. According to NPD, US prestige color cosmetics sales jumped 22% in the first half of the year.
This isn't Stride's first foray into beauty. The private equity firm was an early investor in Tatcha, Skinfix, First Aid Beauty and Drybar.
The announcement comes at a time when interest in indie beauty and color cosmetics remains high. According to NPD, US prestige color cosmetics sales jumped 22% in the first half of the year.