Augustinus Bader has reached unicorn status.
The brand, whose cult following includes Victoria Beckham and its new chief creative officer Bobbi Brown, has just closed a $25 million funding round with Antoine Arnault and Natalia Vodianova among the investors, WWD has learned.
The funding round values the company at $1 billion, according to sources. Other investors in the round included Diageo Chairman Javier Ferrán, photographer Mert Alas, General Atlantic and Impala, the sources said.
The company confirmed the funding round to WWD.
Separately, industry sources told WWD that the skin care company famous for The Cream and The Rich Cream has also tapped investment bank Centerview Partners to explore deal options, although nothing is imminent. Sources stressed such a move was because the brand has received so much interest lately that it wants to formalize the process rather than field each interested party bilaterally.
The brand declined to comment on this matter.
According to sources, Augustinus Bader retail sales are expected to come in at around $200 million this year, while net sales will be at $100 million.
The brand began when founder and chief executive officer Charles Rosier, who worked in finance, was introduced to the doctor Augustinus Bader, an expert in stem cell research and wound healing. The two launched the brand in 2018, which took off quickly and tripled sales to $70 million by 2020, during the depths of the global COVID-19 pandemic.
Since then, it has expanded its skin care range, launched a body cream and moved into hair care, tapping into its hero ingredient, TFC8 across formulations. It has also forayed into wellness, launching hair and skin ingestibles with probiotic strains.
What’s more, the Ultimate Soothing Cream, a heavier alternative to cult classic The Rich Cream that launched in March, is expected to reach $20 million in sales for its first year on the market.