Cos Bar has attracted an important shopper this holiday season.
The upscale Denver-based beauty emporium has attracted an investment from the private equity fund Tengram Capital Partners.
Richard Gersten, a partner at Tengram, would not disclose the size of the investment but called it “significant.”
He said the boutique’s high-touch environment along with the luxury brand it carries attracted Tengram to Cos Bar, which has 14 locations across the U.S. in tony tourist-magnets such as Aspen, Vail, Scottsdale and New York, among others.
Cos Bar, which was founded in 1976 by Lily Garfield, sells Amore Pacific, La Mer, Bobbi Brown and Tom Ford, among other brands.
Asked if Tengram envisions Cos Bar as a national operation, Gersten said he expects to open more doors in existing markets and new ones. The plan is to take Cos Bar “to the next level,” he said.
“We evaluate numerous opportunities in the beauty and retail sectors and found Cos Bar to be particularly compelling, given its strong and recognizable brand, high degree of customer loyalty and distinctive positioning,” said Gersten. “The company has strong growth prospects as luxury beauty consumers are increasingly seeking a more personalized shopping experience outside of traditional department stores.”
Tengram’s other beauty investments include Laura Geller, Nest Fragrances, DevaCurl and This Works.
Garfield stated, “The strength of the Cos Bar brand and our exclusive focus on luxury, coupled with Tengram’s deep expertise in retail and beauty, will help the company reach the next level.”