The sport of celebrity beauty lines has dealt in a recent player — Scarlett Johansson.
Johansson is the most recent in a string of celebrities slated to bring a beauty brand to market. It’s the actress’ first play as an entrepreneur, and her unnamed line is predicted to launch in early 2022.
“I’ve been fascinated by the transformative power of beauty since I used to be a toddler. My mother instilled in me a passion for self care from my early teenage years. Several years ago, I took a step back from my beauty deals with the goal of making something true to me. The result’s a clean, accessible approach to beauty,” Johansson said in a press release.
The road is being funded by The Najafi Corporations, the identical minority investors behind Beach House Group and, by effect, Pattern by Tracee Ellis Ross and Moon Oral Care. Industry sources said the initial investment falls inside the range of $5 million to $10 million, and that Johansson and her cofounder, Kate Foster, may have ongoing access to capital.
“I met Scarlett almost two years ago. She shared her brand vision with me and instantly, I used to be interested by how we could turn it right into a reality. It has been an incredible experience working alongside her and we’re thrilled to have the support and partnership of The Najafi Corporations to assist the brand achieve its full potential,” Foster said exclusively to WWD.
“We’re proud to have built a brand that fills a void available in the market and addresses a real consumer need. Our brand platform is differentiated and has an important deal of runway for growth and expansion,” added Foster, who has held leadership roles in the wonder divisions of Victoria’s Secret and Juicy Couture.
Despite a cluttered market, Jahm Najafi, founder and chief executive officer of the Najafi Corporations, remained focused on the brand’s longevity.
“The Najafi Corporations is an entrepreneurial and mission-driven private investment firm. We are usually not a fund and we don’t manage third-party capital. We invest using our own capital, which enables us to really think long run, move expeditiously and remain highly flexible,” he said exclusively to WWD.
“We also don’t subscribe to a diversification strategy; reasonably, we concentrate our time and resources and search for needles in a haystack. We’re enthusiastic about supporting ambitious and thoughtful founders and management teams who lead with integrity and vision. Scarlett and Kate fit squarely within the sort of leaders with whom we like to partner for the long run,” Najafi continued.
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