L Catterton has made a “significant growth capital investment” into Dibs Beauty, the fast-growing color cosmetics brand. Terms of the transaction were not disclosed.

Launched in September 2021, Dibs Beauty reunited the co-founders of Tula Skincare—Ken Landis (also co-founder of Bobbi Brown Cosmetics) and tech entrepreneur Dan Reich with Austin-based entrepreneur Courtney Shields—and the former COO of ARod Corp., Jeff Lee.

L Catterton previously partnered with Tula in 2017 until its successful acquisition last year by Procter & Gamble.

Dibs Beauty's In-Demand Products

Dibs’ hero products are Desert Island Duos and Status Sticks—and they have been hot commodities. In less than a year and a half, Dibs Beauty has sold out of its Desert Island Duos six times and has grown more than 450% year-over-year through selling directly to consumers on their own website. The brand launched with its first retailer, Revolve, in July 2022 and has been one of the fastest-growing beauty brands on their site. Additionally, the multi-purpose Duo Brush 15 has sold out multiple times since its launch in September 2022 and currently has a waitlist of more than 50,000.

“Dibs is about elevating beauty essentials for consumers who range from 0 to 100 in terms of makeup knowledge. We have reached this milestone well ahead of expectations, and L Catterton has the expertise and agility to help us become the leader in multifunctional, effortless makeup. Our makeup goes where our customers go, and we intend to meet them both across our rapidly expanding digital channels and in brick-and-mortar retailers,” said  Lee, who serves ass CEO of the beauty brand.

“Dibs Beauty is a highly distinctive brand that has quickly established a reputation for offering approachable, multifunctional makeup essentials that resonate with its customers,” said Jon Owsley, co-managing partner of the L Catterton Growth Fund. “We are thrilled to once again partner with Ken and Dan who are proven entrepreneurs in beauty as well as Courtney and Jeff, who are uniquely suited to drive growth in this digitally-native brand. We look forward to leveraging our expertise in beauty to support the company's ambitious expansion strategy.”

L Catterton's Investments

L Catterton’s current and past investments include Tula, Merit, Oddity, Function of Beauty, The Honest Company, Intercos, Marubi, Elemis, Nutrafol and others.