Soleil Collective has announced its partnership with Australian beauty brand Coco & Eve, providing growth capital and recapitalising the company. This collaboration sees Texan private equity firm Gauge Capital acquiring a majority stake in Coco & Eve for over $100 million.
Founded in 2018 by Emily Hamilton and her husband Alexander Ostrowski, Coco & Eve, is celebrated for its sunless tanning, haircare, SPF, and skincare products. Inspired by Bali, the brand is marketed as vegan and cruelty-free, featuring popular items like Sunny Honey Bali Bronzing Foam. The company has earned a loyal following for its innovative formulations and natural ingredients. The couple, who now live in Singapore, initially funded the brand by selling their home and investing their savings.
“This collaboration fuels our growth vision and enhances our ability to deliver Bali-inspired products, ” Emily said. “With Soleil Collective’s expertise, we are set to elevate our brand and reach more beauty enthusiasts globally.”
“We are thrilled to welcome Coco & Eve to the Soleil Collective family,” said Hilary Daly, CEO of Soleil Collective. “This addition broadens our consumer reach and strengthens our position in the beauty market.”
Coco & Eve is projected to exceed $120 million in revenue for 2024, a 35% increase year-on-year. The brand is sold globally through retailers such as Sephora, Ulta, and Boots, and in Australia at Adore Beauty, Myer, and The Iconic.
James Jackson, Partner at Gauge Capital, said, “We have long admired Coco & Eve and are excited to help realise the brand’s full potential. This acquisition marks a significant milestone for Soleil Collective.”
The sale of Coco & Eve continues a trend of significant transactions in the beauty industry.
Last year, men’s grooming brand Patricks received a substantial investment from the venture arm of Japan’s Shiseido; Bondi Sands was sold to Japan’s Kao Corporation for $450 million; and Melbourne’s Aesop was acquired by L’Oréal for $3.7 billion.
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