Best known for its Mighty Patch line, Hero Cosmetics today revealed it has received a significant minority growth investment from private equity firm, Aria Growth Partners. The investment, Hero’s first in its three-plus years of business, will enable Hero to fuel continued growth, product innovation and expanded distribution of its accessibly-priced skin care products. It also marks Aria’s first investment as it is a new fund.
Co-founded in 2017, Ju Rhyu, Dwight Lee and Andrew Lee, created hydrocolloid patches to cover blemishes and treat them transdermally. Hero has since developed a cult-like following with products such as Mighty Patch and Rescue Balm leading to revenue growth of over 300 percent in 2020. The brand expects to generate more than $80 million in retail sales in 2021.
“Fortunately, we have been profitable since year one and were in a position to choose a partner for their strategic value-add to help take the company to the next level. That’s exactly what we found with Aria Growth Partners,” said Ju, Co-Founder and CEO, Hero Cosmetics.
Hero is sold on Amazon, Target, Ulta Beauty, CVS, Anthropologie, Urban Outfitters and direct-to-consumer. It also is sold in Morphe as of December. Later this month, Hero will launch Clear Collective, a three-step blemish prevention system targeting the root causes of acne and blemishes. The line will be available exclusively at Target and on the brand’s own website.