r.e.m. beauty, a Los Angeles, CA-based beauty brand founded by Grammy winner, singer, and actress Ariana Grande, received a strategic investment from Sandbidge Capital.
The amount of the deal was not disclosed. The investment also included participation from Strand Equity and long-term Ariana Grande collaborators HYBE America, Live Nation Entertainment and Universal Music Group.
The company intends to use the funds to focus on its core markets, with further expansion plans to be announced.
Founded in 2021 and led by Michelle Shigemasa, CEO, r.e.m. beauty is a clean, vegan, and cruelty-free brand that offers an inclusive range of shades and products accessible to all and is newly PETA certified. The company has also built a loyal community enabling the brand to engage with content creators across multiple social platforms resulting in viral product moments such as the Lustrous Liquid Eyeshadows and Essential Drip Lip Oils.
r.e.m. beauty is available on rembeauty.com and currently distributed exclusively at ULTA Beauty in the United States, Sephora across Europe, and Selfridges in the UK.
The brand will continue to focus on its core markets, with further expansion plans to be announced.
FinSMEs
24/05/2023