Summer Fridays Attracts Majority Stake Investment from TSG Consumer Partners for Growth Expansion

Summer Fridays, a beauty brand founded by Marianna Hewitt and Lauren Ireland in 2018, has secured a strategic investment from TSG Consumer Partners. TSG took a majority stake, and Hewitt and Ireland retain significant equity, continuing to lead the company. The investment, which follows Prelude Growth Partners' previous investment in 2019, will support product development, brand expansion, and international growth, with a focus on Western Europe. Summer Fridays, now estimated to be worth $100 million in annual sales, has diversified its product line and gained recognition for its Jet Lag Mask.

Introduction:

Summer Fridays, the groundbreaking beauty brand co-founded by influencers Marianna Hewitt and Lauren Ireland in 2018, has secured a significant investment from TSG Consumer Partners. This strategic move positions the brand for further growth, product development, and international expansion. With a focus on Western Europe, Summer Fridays is expected to join the ranks of the billion-dollar beauty industry.

Background:

Summer Fridays first captured the attention of Sephora and the beauty industry with its hero product, Jet Lag Mask, in 2018. Since then, the brand has expanded its product range to include Overtime Mask and R+R Mask, and has partnered with major retailers such as Cult Beauty, Selfridges, and Mecca. TSG Consumer Partners, a prominent private equity firm specializing in consumer brands, has taken a majority stake in the company, allowing Hewitt and Ireland to retain significant equity and continue leading the brand.

The Investment:

TSG Consumer Partners' investment in Summer Fridays follows a previous investment from Prelude Growth Partners in 2019. The terms of both investments were not disclosed, but it is reported that the brand is on track to achieve $20 million in retail sales for 2019. With the support of TSG, Summer Fridays aims to build out its team, develop new products, and expand its reach in the international market.

Impact:

The investment from TSG Consumer Partners represents a significant milestone for Summer Fridays, allowing the brand to capitalize on its momentum and continue disrupting the beauty industry. As the brand expands its product line and enters new markets, it is expected to face increased competition from established players. However, with the guidance of experienced investors and the support of its loyal community, Summer Fridays is well-positioned to succeed.

Quotes:

"There's been magic in building something using a nontraditional roadmap," Marianna Hewitt said to WWD. "We wanted partners who could guide us in those areas that we're really unfamiliar with, while also pushing us to maintain our approach in using our intuition."

"We were so fortunate to be able to launch with Sephora before we had even launched the brand, but the moment you go into such a large retailer you have to function like a large company very quickly," Lauren Ireland said to WWD. "As a not-so-large company, we would call on Prelude for guidance, and eventually decided to take an investment in order to capitalize on the brand's momentum."

Conclusion:

Summer Fridays' strategic investment from TSG Consumer Partners marks an exciting new chapter for the indie beauty brand. With a focus on product development, brand expansion, and international growth, Summer Fridays is poised to continue disrupting the beauty industry and achieving unprecedented success.