L Catterton Invests in Premium Bath & Body Care Brand Stenders business, fashion, fashion news

Latvian Wellness Company Poised for Global Expansion with Strategic Partnership

Private equity firm L Catterton, backed by luxury conglomerate LVMH, announced on Monday the acquisition of a majority stake in Stenders, a leading premium bath and body care company. While financial terms were not disclosed, the transaction signifies L Catterton’s confidence in Stenders” growth potential and commitment to expanding its presence in key international markets.

Founded in 2001, Stenders prides itself on crafting high-quality products inspired by the natural environment of northern Europe. The company boasts a portfolio of over 400 made-in-Latvia products, developed with a strong emphasis on safety, sustainability, and functionality, utilizing natural ingredients and fully recyclable packaging.

Stenders has demonstrated impressive financial performance in recent years, achieving an average annual revenue growth rate of approximately 20% over the past four years. This success can be attributed to its robust omni-channel presence, spanning over 300 stores across 20 countries, major e‑commerce platforms, and its own website.

The strategic partnership with L Catterton aims to accelerate Stenders” international expansion across Asia, Europe, the Middle East, and the United States. Kristine Grapmane, Chief Operating Officer of Stenders, expressed optimism regarding this collaboration: «This partnership will unlock the next stage of growth for us. L Catterton has a proven track record of creating value for its portfolio companies, and we are keen to leverage their insights, operational expertise, and network as we continue our expansion across various geographies.»

Grapmane highlighted key areas of focus including expanding store presence, enhancing retail productivity, bolstering e‑commerce capabilities, optimizing manufacturing efficiency, and attracting top talent.

Scott Chen, Managing Partner at L Catterton, emphasized the growing trend of «trading up» in the bath and body care market: «Consumers are progressively seeking premium products, similar to the trends witnessed in facial skincare and hand care. Stenders, with its strong brand values and exceptional products, is well-positioned to capitalize on this shift.» He expressed confidence in the brand’s future growth trajectory, stating that there is «ample headroom for further expansion» through this partnership.

This investment aligns with L Catterton’s established track record of successful investments in the beauty and wellness sector. Previous acquisitions include notable brands such as Ci Flavors, Elemis, Etvos, Function of Beauty, The Honest Company, Maria Nila, Marubi, Merit, Nutrafol, Oddity (parent company of Il Makiage), Sugar Cosmetics, Tula, and many others, demonstrating L Catterton’s deep understanding and commitment to the industry.