PE Firm Makes Minority Investment In Sustainable Haircare Company Hairstory

Summit Partners has made a minority funding in sustainable haircare model Hairstory. Hairstory was based in 2015 by a staff of haircare trade veterans. The model’s core product, New Wash, is biodegradable and cleans hair with none detergent.Sustainability and the surroundings are core to the model’s DNA. Hairstory merchandise are delivered in recyclable, refill pouches, and the corporate’s subscription platform, the Refill Club, allows prospects to eat almost 90% much less plastic and produce 80%+ fewer CO2 emissions throughout cleaning as in contrast with conventional haircare merchandise.  Hairstory additionally donates 1% of the proceeds from each 8-ounce pouch sale to water-related causes.
“We are passionate concerning the surroundings and challenged ourselves to suppose in a different way about our environmental footprint from the beginning,” mentioned CEO Eli Halliwell. “One of the most important alternatives we recognized was our capability to cut back plastic consumption. We launched with refill pouches for our subscriptions on the outset and rapidly realized folks had been okay abandoning their plastic bottles, so we switched all the things over to refill pouches. We are simply beginning to apply the identical technique to our styling merchandise and our purpose is to be the primary magnificence firm to be 100% refillable.”Hairstory’s Jackie Gilbert Bauer, head of product growth, mentioned the corporate’s method to formulation and the buyer on this June 2021 webinar.Hairstory launched a brand new “direct-through-stylist” enterprise mannequin that permits hairdressers to take part in ecommerce in a method designed to respect their relationship with their purchasers. Once a hairdresser introduces Hairstory to their purchasers, they’ll earn commissions on all future purchases, no matter the place the shopper buys. This perpetual affiliate mannequin is designed to allow native entrepreneurs to compete in a world more and more dominated by world giants.Melanie Whelan, a managing director with Summit Partners has joined Hairstory’s board of administrators. “We imagine Hairstory’s differentiated and efficient merchandise, buyer loyalty, profitability, and persistently good and deliberate progress selections make them a uncommon model. We are delighted to companion with Eli and this passionate staff to assist the corporate’s subsequent chapter: working to deploy a extra expansive progress technique whereas furthering sustainability-focused product innovation,” mentioned Whelan.

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