Last year's revenue increased by 800%! DTC brand Vegamour received $80 million in financing

Recently, DTC natural hair care brand Vegamour announced that it has received an $80 million investment from General Atlantic .

Vegamour will use the funds to further grow its e-commerce business , launch additional products, and expand into new channels and geographies.

As part of the transaction, General Atlantic's Andrew Ferrer and Lexie Bartlett will join Vegamour 's board of directors.

“ Vegamour has been a leader in developing products to advance the hair health category,” said Andrew Ferrer, managing director at General Atlantic. “We are excited to partner with the Vegamour team to accelerate the company’s growth based on their proven model . ”

Vegamour is a natural plant-based hair care brand founded by CEO Daniel Hodgdon in 2016. The products sold include hair care products, eyelash enhancers, eyebrow enhancers , etc. Brand official website: https://vegamour.com/

Hair loss affects approximately 35 % of women , or around 60 million people in the U.S. alone , and Vegamour targets this target demographic directly, aiming to solve this challenge with clean products that are both environmentally and user-friendly .

“Hair health is the future of hair care, and our partnership with General Atlantic ensures we have the funding and resources necessary to continue to build on the hair health conversation and maintain our position as a global market leader and innovator in this white space, ” Daniel Hodgdon said in the announcement.

It is understood that Vegamour's growth mainly comes from the enthusiastic pursuit of loyal consumers, and 60% of the brand 's revenue comes from repeat customers . Vegamour also commissioned a third party to conduct an independent survey, in which 90% of customers said they would "buy Vegamour products again", 88% of customers said that Vegamour's products are "the best of their kind they have tried", and 85% of customers said that "the experience of Vegamour products has changed their lives."

American TV celebrity Erica Mena also recommended Vegamour products on Instagram and shared her experience: "Now I don't need to go to the salon for scalp and hair care. Using Vegamour can help my hair continue to grow healthily."

It is worth noting that Vegamour's revenue in 2020 increased by 800% compared to 2019, and it plans to achieve at least 300% growth in 2021. It is reported that with the help of new investments, Vegamour's annual sales may reach US$1 billion.

DTC

Vegamour

Hair Care Brands