The recreation of celeb magnificence traces has dealt in a brand new participant — Scarlett Johansson.
Johansson is the most recent in a string of celebrities slated to deliver a magnificence model to market. It is 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 was a child. 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 creating something true to me. The result is a clean, accessible approach to beauty,” Johansson mentioned in a press release.
The line is being funded by The Najafi Companies, the identical traders behind Pattern by Tracee Ellis Ross, Moon Oral Care, Beach House Group and Florence by Mills. Industry sources mentioned the preliminary funding falls throughout the vary of $5 million to $10 million, and that Johansson and her cofounder, Kate Foster, may have ongoing entry to capital.
“I met Scarlett almost two years ago. She shared her brand vision with me and right away, I was thinking about how we could turn it into a reality. It has been an incredible experience working alongside her and we are thrilled to have the support and partnership of The Najafi Companies to help the brand achieve its full potential,” Foster mentioned completely to WWD.
“We are proud to have built a brand that fills a void in the market and addresses a true consumer need. Our brand platform is differentiated and has a great deal of runway for growth and expansion,” added Foster, who has held management roles within the magnificence divisions of Victoria’s Secret and Juicy Couture.
Despite a cluttered market, Jahm Najafi, founder and chief govt officer of the Najafi Companies, remained targeted on the model’s longevity.
“The Najafi Companies is an entrepreneurial and mission-driven private investment firm. We are not a fund and we don’t manage third-party capital. We invest using our own capital, which enables us to truly think long term, move expeditiously and remain highly flexible,” he mentioned completely to WWD.
“We also do not subscribe to a diversification strategy; rather, we concentrate our time and resources and look for needles in a haystack. We are passionate about supporting ambitious and thoughtful founders and management teams who lead with integrity and vision. Scarlett and Kate fit squarely in the type of leaders with whom we love to partner for the long term,” Najafi continued.
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