Australian beauty brand, Coco & Eve is on track to exceed $120 million in revenue for the 2024 calendar year. The record-breaking sales target, a year-on-year increase of 35% comes as US private equity firm, Gauge Capital acquires a majority stake in the business.
Founded by beauty entrepreneur, Emily Hamilton in 2018, the vegan and cruelty-free brand sells a range of hair, self-tan and body care products, inspired by Bali beauty and the island’s tropical ingredients.
Coco & Eve is sold globally through international retail giants such as Sephora, Ulta and Boots and is currently stocked at major Australian retailers including Adore Beauty, Myer and The Iconic.
The brand was entirely owned and funded by Hamilton and her husband, Alexander Ostrowski, who in 2019 sold their family home and invested their life savings to fund the global expansion of Coco & Eve and to raise additional capital for investment into R&D and clinical trials.
“We are thrilled that just six years after founding Coco & Eve, we have secured this partnership deal with Gauge Capital to take the brand to the next level and ensure its enduring success,” Hamilton said.
She will continue to run Coco & Eve from its headquarters in Singapore, with the husband-and-wife duo retaining a small stake in the company.
“We have long admired Coco & Eve and consider ourselves fortunate to partner with Emily and Alex to help realise the brand’s full potential,” Gauge Capital partner, James Jackson said.