Merit, the clean beauty brand launched by Katherine Power, the Founder of Who What Wear and Versed Skincare, has raised $20 million in a Series A capital raise led by L-Catterton with Marcy Ventures and Sonoma Brands. The investment will drive Merit’s development into an omni-channel, cross-category beauty brand as it looks to increase its offerings with accessories, hair, fragrance and skin care.
With the goal of reimagining luxury beauty by offering clean, sustainable, accessible products, Merit launched in January 2021 with a curated range of color cosmetic essentials priced from $24 to $38. Since then, the brand has experienced rapid business growth and is on track to expand into more than 800 doors by the end of 2021, inclusive of Sephora U.S., Sephora Canada, and Sephora at Kohl’s.
“Merit is built around a less-is-more philosophy that has resonated with the modern consumer in a way that has exceeded our wildest expectations,” said Katherine. “We are excited to harness the momentum of this omni-channel brand with an infusion of capital and a new partner in L Catterton. It is our desire to take this minimalist approach beyond clean color cosmetics to serve our customer in many aspects of her beauty and self-care routines.”