Color cosmetics brand Desert Island Beauty Status, better known as DIBS Beauty, has received a “significant growth capital investment” from investment firm L Catterton. Founded in 2021, DIBS Beauty first received an investment of $2.6 million from investors including its four founders; L Catteron partners Michael Farello and Jonathan Owsley; and several industry experts and influencers. The company was founded by Dan Reich; Ken Landis, a co-founder of Tula and Bobbi Brown Cosmetics; Courtney Shields; and former Chief Operating Officer of ARod Corp, Jeff Lee.
Terms of the transaction were not disclosed.
“We are thrilled to once again partner with Ken and Dan who are proven entrepreneurs in beauty, as well as Courtney and Jeff, who are uniquely suited to drive growth in this digitally-native brand. We look forward to leveraging our expertise in beauty to support the company’s ambitious expansion strategy,” says Jon Owsley, Co-Managing Partner of the L Catterton Growth Fund.
DIBS Beauty was born out of a question Courtney had been asked countless times, “What beauty product would you take to a deserted island?” It seems that her answer, “multi-use products that travel well” hit the spot: in less than a year and a half, DIBS Beauty has achieved consistent sell-outs of key items, including its iconic Desert Island Duo, a blush + bronzer in one. Overall, the company has grown more than 450% year-over-year on their own site. The brand launched with its first retailer, Revolve, in July 2022 and has been one of the fastest-growing beauty brands on the site, according to DIBS Beauty. Additionally, the brand’s first-ever tool, the multi-purpose Duo Brush 15, has sold out multiple times since its launch in September 2022 and currently has a waitlist of over 50,000.
In an interview with Beauty News in 2022, Jeff said, “We’re past the age where people have one product that does only one thing and takes up a lot of space. I don’t think people need heavy, gilded components for their beauty products, they want items that can travel easily. Courtney always says we want to give people their time and space back. That’s what this is all about, if you’re packing for a desert island and you can only bring so many things, we hope it’s one of our products.”