Hero Cosmetics secures investment from Aria Growth Partners

US-based Hero Cosmetics has secured a significant minority growth investment from consumer-focused private equity firm Aria Growth Partners.

This investment will help Hero drive its growth, innovate and expand distribution of its skincare products.

Hero Cosmetics was co-founded in 2017 by Ju Rhyu, Dwight Lee and Andrew Lee.

Its products such as Mighty Patch are targeted at skin and acne care.

The company claimed that its products have experienced revenue growth by over 300% in 2020.

It expects to generate over $80m of retail revenue this year.

Hero Cosmetics co-founder and CEO Ju Rhyu said: “Fortunately, we have been profitable since year-1 and were in a position to choose a partner for their strategic value-add to help take the company to the next level. That’s exactly what we found with Aria Growth Partners, and we are thrilled to work with Trevor and Jackie to turn Hero into the #1 functional skincare brand.

“In addition to DTC and Amazon, Hero has built a strong partnership with Target where it has rapidly expanded its assortment and shelf presence. Later this month, Hero will launch Clear Collective, a one-of-a-kind 3-step blemish prevention system targeting the root causes of acne and blemishes. The line will be available exclusively at Target and on the brand’s own website. “Part of our mission at Hero is to help people reclaim their skin confidence by bringing game-changing, effective, innovation to acne care at accessible price points.”

Mighty Patch and other Hero products are available across the country at Target, Ulta, CVS, Amazon, Anthropologie and Urban Outfitters and at herocosmetics.us.

For the transaction, Hero was advised by Michael Toure of Toure Capital.