L Catterton invests in US makeup brand Il Makiage

US-based makeup brand Il Makiage has secured a $29m investment from consumer-focused private equity firm L Catterton’s Growth Fund unit.

Il Makiage intends to use the investment to support its expansions.

Founded in 1972 by makeup artist Ilana Harkavi, Il Makiage offers an assortment of professional makeup products in various high-end textures and shades.

The brand runs several boutiques, which offer one-on-one consultation by professional makeup artists, for a personalised experience and accurate product matching.

Il Makiage's chief executive officer (CEO) Oran Holtzman said: “This significant investment indicates a tremendous expression of confidence in the brand, its positioning, the management team, and above all, the products and their uncompromising quality."

The makeup brand had seen a significant development over the past few years, with a new research and development (R&D) unit, expanded product portfolio, and mono-brand makeup boutiques, following its purchase by Holtzman. he brand also owns a professional academy, which provides different courses for makeup artists.

L Catterton Growth Fund's co-managing partner Michael Farello said: "Oran and his talented team have reinvigorated the brand on the strength of Il Makiage's rigorous R&D process, professional quality products, and personalised customer experience.

“We see significant opportunity to expand this successful formula in the US by driving brand awareness and leveraging Il Makiage's high-touch, experiential retail model."

Previously, L Catterton invested in cosmetics brands such as Bliss, Cover FX, CLIO Professional, Dr Wu, Ideal Image, Intercos Group, Kopari, StriVectin and TULA.