L Catterton Takes $15M Stake in Public Goods
Summary
L Catterton is continuing to make moves amid the coronavirus pandemic.The investment firm associated with LVMH Mo\xebt Hennessy Louis Vuitton that operates an equity fund of $20 billion is backing direct-to-consumer brand Public Goods to the tune of $15 million. As we look to the future, L Catterton has the capital, resources and experience to help us achieve our next phase of growth.The company is looking to expand its product range and categories on offer, including a line for pets in the coming weeks. Public Goods launches what customers want, and currently they want everything to be Public Goods.Public Goods model capitalizes on several compelling trends including consumers heightened focus on healthy living and a preference for clean, sustainable, and ethically sourced products, Chris Roberts, a partner at the L Catterton Growth Fund, said.He added that Public Goods has shown demand across a wide range of personal-care and household essentials with its accessible and affordable price points and membership option. Both acquisitions are at a much lower price than the new investment in Public Goods.In recent years the fund has also made a range of majority investments, which currently include Class Pass, Cover FX, Ganni, Il Makiage, Sweaty Betty, Third Love and Tula Skincare. Previous investments include Gant, SMCP, Piazza Sempinoe, Baccarat, Peloton and Pure Barre, among many others.