Cult Capital has made an investment in LAWLESS, a clean color cosmetics brand. No financial terms were disclosed.
NEW YORK, Dec. 16, 2019 /PRNewswire/ — Growth equity firm Cult Capital (formerly JMK Consumer) has made a significant minority investment in clean color cosmetics brand LAWLESS.
LAWLESS, founded by second time entrepreneur Annie Lawless, offers clean color cosmetics focused on high-impact, full-coverage products. LAWLESS preserves the luxe and sexiness of an artistry brand, while allowing the customer to maintain a clean, wellness focused lifestyle. Two months after launch, LAWLESS was approached by Sephora, who was looking to make a push into clean color cosmetics. The Company’s products are now sold through all Sephora doors, Sephora.com as well as the LAWLESS website.
For Cult Capital, LAWLESS’ positioning as a clean color cosmetics brand that doesn’t feel, sound, or look like any other clean makeup brand was the main point of attraction.
“We love that Annie set out to create a brand that was clean (AF), but also sexy and fun,” says Sarah Woelfel, Co-Founder and Partner at Cult Capital. “Annie is such an inspiring individual and we are delighted by the opportunity to partner with her and the LAWLESS team. When building a Cult Brand, partnership is key, and partnership is what we found with Annie Lawless.”
The new capital will be used for product innovation, team expansion, and marketing efforts while simultaneously deepening the brand’s relationship with Sephora, who has proven to be an excellent partner.
Annie Lawless is not new to raising capital. She is a second time entrepreneur, successfully selling a stake of her previous company, Suja, to Coca-Cola and others. “As someone who has raised capital before, I was hyper-focused on finding a partner that I was completely aligned with,” Lawless said. “I found true partnership with Sarah and the entire Cult Capital team. Cult has a deep understanding of what it takes to create a lasting brand name, and a has unique eye for the beauty space. Cult has the experience and partnership I needed to authentically scale my brand.”
Cult Capital was founded 5 years ago by John Kenney and Sarah Woelfel and until now has been known as JMK Consumer. “We feel strongly that our new name, Cult Capital, better reflects the degree of differentiation that we seek in consumer companies as well as the collaborative nature of our team, process and partnership with founders,” said Kenney.
Cult Capital invests in consumer brands that hyper-connect with their followers and have a fiercely committed and loyal customer base. Cult Capital is currently partnered with Supergoop! (a skincare brand re-defining SPF), Miyoko’s (a plant-based food brand taking vegan cheese and butter mainstream) and Jaanuu (a DTC clothing brand reimagining medical apparel). The firm also recently sold Babo Botanicals (a personal care brand offering natural products for the whole family) to Mustela.