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LVMH-backed private equity firm L Catterton is acquiring a minority stake in luxury skin care brand Eighth Day via the firm’s early-stage platform, Elevate Beauty. This marks the first time the line, which was founded by dermatologist Dr. Antony Nakhla in 2018, has received external funding.
“[L Catterton’s] capital and expertise takes this cult brand in small pockets of the luxury market and brings it to scale,” Nakhla, Eighth Day’s founder and chief executive, told The Business of Beauty.
Known for its best-selling Regenerative Serum, Eighth Day launched exclusively with Violet Grey in 2021. The brand has since expanded to eye creams and cleansers and is now sold at Bergdorf Goodman and Neiman Marcus. Nakhla said the capital would be used for global expansion, product innovation and to expand Eighth Day’s executive team; Nakhla will step down as CEO in the coming months.
L Catterton’s recent investments include Swedish hair care brand Mira Nila and ready-to-wear label A.P.C.
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Editor’s Note: This article was updated on Sept. 18, 2023, to amend Dr. Antony Nakhla’s name.
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