- 2024-06-25
- 阅读量：4119
- 来源｜Cosmetic Business Online
- 作者｜Li Ru Hui
Attention to the needs of menopausal women.
LVMH's private equity fund, L Catterton, has announced that it has entered into a partnership with British actress Naomi Watts to acquire beauty brand Stripes Beauty ("Stripes") under undisclosed terms.Founded by Naomi Watts, Stripes is reportedly focused on the physical and mental health of menopausal women, launching 4 series of products, including facial care, body wash, intimate care and nutritional supplements, with products priced between 15-85 US dollars (about 108-617RMB). The brand is currently sold through its official website and Amazon.
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Focusing on the beauty and health needs of menopausal women
Commenting on the business partnership, founder Naomi Watts said, "This is an exciting time for Stripes Beauty, and I am grateful to L Catterton for believing in our brand and appreciating our vision to support women going through menopause.Stripes Beauty's mission, products, and brand are very meaningful and I am thrilled to be working with L Catterton."
Beauty and wellness brand Stripes was founded in 2022 for women in their 40s and 50s who are going through menopause and other symptoms associated with the natural hormonal changes of female age.
According to the United Nations World Health Organization, by 2030, there will be more than 1.2 billion women in the world in menopause, and there will be more than 210 million menopausal women in China, accounting for about one-seventh of the total population, and more than 80% of women will experience discomfort or illnesses related to menopause. Compared to the huge demand, the market for menopausal consumer products is still relatively blank, making it difficult for consumers to find the products they want.
And Stripes was created out of founder Naomi Watts' personal experience of experiencing a variety of physical and mental setbacks as a result of early menopause. She felt that menopausal women deserved more support and better health solutions.
The epidemic gave her more time to reflect, and Stripes was born out of her collaboration with American biotech company Amyris. The brand's products focus on efficacious ingredients such as squalane and ectoin, and it has launched a variety of products such as facial moisturizing serum, scalp care serum, intimate care gel, and probiotic vitamin capsules specially designed for menopausal women.
Known for its protective properties, squalene is a key ingredient in most Stripes products for better hydration and probiotics for menopausal women. The ingredient is used in products such as Power Move Serum and Oh My Glide Serum Oil.
In addition, the brand has also launched a popularization area "Menoguides" and the brand's magazine "Adulted" on its official website, which discusses the physical and mental changes of women's menopause, sexual health, sleep, diet and exercise and other topics, helping women to reduce anxiety and gain more self-confidence.
"We are the first generation of menopausal women to use the Internet. I hope that with our resources, consumers can share information with younger generations and be more empathetic to our mothers." Naomi Watts says Stripes is changing the "stigma" of menopause for women.
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There is a gap in the market for specialized care products for menopausal women
Whitney Casey, Head of Acquisitions at L Catterton, mentioned, "As a consumer-focused investor, we have followed the success of Stripes Beauty and believe in their mission to build a community that provides support for women as they age. We are proud to have invested and contributed to the development of a women's health platform that caters to women's lifestyle needs."
With L Catterton's capital backing, Stripes will continue to accelerate growth domestically and overseas, drive marketing investment and team expansion, develop innovative channels, and offer products and services to existing and new customers in achievable luxury channels.
With the concept of FemTech (women's health technology) becoming a craze overseas, providing care products for menopausal women seems to be becoming a popular direction for overseas startups.
In addition to Stripes, RED MOON, which specializes in menstrual care; Rael, a women's personal care brand that launched a special mask for menstruation; Joylux, an intimate health care brand for menopausal women; and Pause Well Aging, a fashion brand that offers different products for the three phases of menopause, continue to emerge.
Most of these brands have menopausal women as the brand's target audience, and their products are built around a certain pain point of menopausal women, further developing the market segment of menopausal care products.
According to Brand Ark, in 2022, there were 17 deals in the global menopause space amounting to $10.2 million ($74.05 million RMB), and that number is expected to double by 2023 to $25 million ($180 million RMB).
In China, for female consumers aged 40 to 50 years old, the major brands provide more "anti-aging" effect of skin care products, clear to menopausal women as the target consumers of the product is yet to be developed.
In fact, 160 million women in China are going through menopause, and of those, 80% are experiencing all the pain of hot flashes, anxiety, and loss of emotional control that menopause brings.
With the concept of consuming for one's own pleasure taking hold, more and more female consumers are waiting for products and services that can help them alleviate the symptoms of menopause. Drawing on overseas experience, it may be worthwhile for brands to innovate by refining their focus on the menopausal group.
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