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With a $30 million infusion of funds, Living Proof is aiming to take on the world.
Its new round of funding from institutional investors — including Leerink Swann and existing investor and company founder Polaris Partners, as well as the Pohlad Family Capital Fund — will support the brand’s quest to expand its reach globally.
Jill Beraud, chief executive officer of Living Proof, noted that South America, Europe and Asia are all in the research and planning stages. “Hair care is a global opportunity, and right now we have a very small global footprint,” said Beraud, who noted that Space NK in the U.K. and Mecca Cosmetica in Australia and New Zealand currently comprise the brand’s distribution outside the U.S. In the U.S., Living Proof is sold in about 900 doors, including Sephora, Nordstrom and Ulta, as well as online at livingproof.com. Beraud noted she believes most additional U.S. growth will come from existing doors.
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Beraud added that the brand will “continue to drive product innovation and new beauty platforms” as the global growth plan is unfurled. “This company was founded on disruption, so we’re looking at innovative ideas in products but also in the way we go to market and interact with consumers,” said Beraud. “We will continue to explore first-to-market ideas.”
The brand launched its first national advertising campaign, starring Jennifer Aniston, this week. Aniston bought into the brand in October, and Beraud noted that she’s been “a tremendous asset” for the brand. “Jennifer has global appeal and reach, as well as great ideas,” said Beraud.