Sandbridge Capital, Carisa Janes Invest in Youth to the People
Indie skin-care brand Youth to the People has landed a minority investment from Sandbridge Capital and Carisa Janes, founder of Hourglass Cosmetics.
Terms of the deal were not disclosed.
Youth to the People focuses on skin-care products that contain superfood ingredients, cold-pressed extracts and natural botanicals. Right now, the brand is sold at retailers such as Sephora, Free People, Anthropologie, Dermstore and on its own web site. Recent launches include the Adaptogen Deep Moisture Cream, formulated with adaptogenic herbs and mushrooms such as reishi and holy basil. Focused on clean ingredients, vegan formulations and sustainable packaging, the brand sits at the crux of wellness and skin care. Youth to the People would not disclose sales figures, but WWD reported last year that industry sources expected the brand to triple its sales to $20 million in 2018.
The investment from Janes and Sandbridge Capital will be used to "support the company's rapid growth," said Youth to the People in a statement, by increasing marketing efforts, continuing product innovation and deepening its existing distribution relationships.
Janes said in a statement, “Youth to the People is a next-generation, purpose-driven brand. Greg and Joe’s product expertise, creative intuition and meticulous eye for detail have created a unique and approachable brand with a focus on inclusivity.” Janes could not be reached for further comment.
Sandbridge Capital currently holds strategic investments in brands such as The RealReal, Rossignol and Farfetch.
Youth to the People was cofounded by cousins Joe Cloyes and Greg Gonzalez in 2015. The pair grew up around skin care — their grandmother is Eva Friederichs, an aesthetician who founded the professional line Eva’s Esthetics in 1979. “We were getting facials by age 10 — that’s how we got our start,” Cloyes told WWD last year.
“We are thrilled to add two amazing partners to our company,” Gonzalez said. “The experience, creativity and success of both is something we know will help Youth to the People become the global brand we had dreamed it would be.”
Said Sandbridge founding managing partner Ken Suslow: "Joe and Greg are already well on their way to building exactly the type of truly authentic, high-growth innovator in the skin-care space where Sandbridge can apply our global brand-building expertise to best effect."
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