Furthers BIG's Mission to be a Trusted Hair Solutions Company for Stylists and Consumers
SALT LAKE CITY and CHATSWORTH, Calif., May 17, 2022 /PRNewswire/ -- Beauty Industry Group ("BIG"), an industry leader for hair solutions, announced today that it has acquired BELLAMI Hair ("BELLAMI"), a premium brand driving innovation in the hair extensions and haircare categories. BIG will support BELLAMI as it advances its differentiated go-to-market strategy and grows its strong consumer following to build on its current momentum. Terms of the transaction were not disclosed.
Co-Founders Nikki Eslami, who will continue to serve as an advisor, and Julius Salerno, Chief Executive Officer, started BELLAMI in 2012 with a vision to bring luxury hair extensions to women that want to look and feel their best. Building on its direct-to-consumer (DTC) roots, BELLAMI's consumer footprint has delivered industry-leading growth since expanding to an innovative direct-to-stylist (DTS) engagement approach that brings its products and insights to the key digital platforms where stylists engage with each other and their customers.
Core to BELLAMI's operating philosophy is the belief that the path to confidence starts rather than ends with the extensions themselves. Over the years, the brand has become a leading educator for stylists to learn the various methods and techniques, understand the best maintenance and styling practices, and continue their education in new technique application, all in an effort to deliver hair solutions for a growing customer base.
"We have long admired BELLAMI for truly redefining the quality, perception, and customer engagement strategy of hair extensions in the growing DTS category," said Derrick Porter, Chief Executive Officer of Beauty Industry Group. "The brand has a remarkable runway for growth, and we look forward to working with the team to equip BELLAMI with the product innovation, data insights and analytics, performance marketing expertise, and supply chain focus that BIG has cultivated through our ongoing brand building efforts. Our partnership with BELLAMI represents an important step towards creating a complete hair solutions company that tells the story of how hair products can solve problems for women around the world."
Nikki Eslami, Co-Founder of BELLAMI, said, "I'm thrilled that BELLAMI is entering its next chapter of growth alongside the BIG team. Their like-minded focus on elevating the hair solutions category marks a natural evolution of BELLAMI's mission over the past decade. With BIG's support, BELLAMI will expand its reach in meeting the diverse hair needs of women, whether it be thinning, alopecia, dryness, postpartum hair loss, damaged hair, or length. It is no surprise that hair is emotional, and a critical part of many people's identity. We want it to be a source of confidence."
Julius Salerno, Co-Founder and Chief Executive Officer of BELLAMI, continued, "This transaction is an exciting milestone for BELLAMI as we continue cultivating methods to reach our consumers through authentic and effective channels. I look forward to working closely with the entire BIG team to bring BELLAMI to even more customers and accelerate our important investment in stylist education."
Across 13 market-leading brands, BIG has become a partner-of-choice for category-shaping innovators, successfully deploying its unique multi-channel distribution network to over 165 countries worldwide. This transaction is supported by existing BIG investors, including L Catterton and HGGC.
Avik Pramanik, Partner at L Catterton, said, "Our research has shown that consumers of all generations are increasingly demanding solutions for their hair challenges that provide a distinctive combination of functional performance, luxury experience, and broad accessibility across a variety of channels. We are confident that the combined capabilities of BIG and BELLAMI will enable the business to continue providing consumers with the most innovative products and services not only in the hair extensions category, but also well beyond. L Catterton and HGGC are pleased to continue supporting BIG's vision to create one of the world's leading beauty platforms."
BELLAMI's products and services will remain available under their existing brand as part of the BIG portfolio, and the Company will continue to be headquartered in Chatsworth, California.
Harris Williams served as exclusive financial advisor to BELLAMI Hair.
About Beauty Industry Group
BIG, established in 2004, is an industry leader for professionally installed and DIY hair extensions and related beauty products. BIG's professional products are sold in more than 1,200 stores throughout North America and its collective brands service more than 30,000 salons across over 165 countries. BIG has offices in 6 countries and is headquartered in Salt Lake City, UT.
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About BELLAMI Hair
Founded in 2012 by Nikki Eslami and Julius Salerno, BELLAMI provides premium hair enhancement solution products to consumers and salon professionals worldwide through its e-commerce platform and its company-owned stores, the BELLAMI Beauty Bars. BELLAMI is committed to sourcing the highest quality, ethically sourced hair. Through its professional channel, the Company empowers hair stylists and salons with its industry-leading, comprehensive hair extensions and business training courses. BELLAMI is headquartered in Chatsworth, CA.
About L Catterton
With more than $33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton's team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. For more information about L Catterton, please visit lcatterton.com.