L Catterton is backed by LVMH, the world’s largest luxury goods group. The private equity major bills itself as the world’s largest consumer-focused private equity firm and has over 250 current investments.

The wellness and personal care categories are a strong focus. L Catterton holds investments in Jessica Alba’s The Honest Company, Kopari, the organic skincare brand, Tula Skincare, Intercos, the global contract cosmetics company, Nutrafol, the fast-growing hair supplement, and OneSpaWorld, the leading international spa service provider.

Hair extensions have been around for decades, but L Catterton believes there’s still major opportunities for growth. Last year, the company snapped up a majority stake in Beauty Industry Group (BIG), the US-based hair extension company,  whose products are sold in North America, Australia, parts of Europe and South America.

BIG has inked a deal to acquire Bellami Hair to consolidate L Catterton’s position in the hair extensions business, opening up a new distribution channel and extending its stable to 14 extension brands.

Founded by Nikki Eslami and Julius Salerno in 2012, Bellami sells its 100% Remy extensions directly to salons via independent sales reps and a digital approach. The company also ships to Australia through its website – www.bellamihair.com.

Even though hair extensions are a default position for many celebrities and actresses, they still have a long way to achieve mass penetration. Even in the US, only 15 to 20 per cent of hair salons offer hair extensions, says Derrick Porter, CEO of BIG.

Apart from the glam crowd, close to 70 per cent of customers who buy hair extensions are looking to solve a problem such as alopecia, hair thinning. post-partum hair loss, damaged hair and length, he adds.

There’s still a lot of myths surrounding the category, says Avik Pramanik, a partner at L Catterton. “Where the perception might be that it’s the 25 year old Ariana Grande fan looking for hair extensions, the reality is that most of the consumers are over 35 years old and are more concerned with self-esteem. The profit pool in hair extension is also good for almost everyone who touches it,”  he notes.

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