Prelude Growth Partners, a private equity firm focused on high potential, fast-growing consumer brands, has sold its stake in Sol de Janeiro beauty brand, a top-selling, Brazilian-inspired, lifestyle skincare brand, to L’OCCITANE en Provence, commonly known as L’Occitane, the international retailer of body, face, fragrances and home products based in Manosque, France.
Sol de Janeiro is an iconic skincare brand that promotes self-love and joy. Since investing in the Company in 2019, as the only institutional investor, Prelude Growth Partners has worked closely with Heela Yang, Co-Founder and CEO, and the Sol de Janeiro team to build brand awareness, expand the product offering and drive growth through both direct-to-consumer and selective retail partners to become a leading lifestyle skincare brand.
“Prelude Growth Partners has been an exceptional partner,” said Heela Yang, Co-Founder and CEO, Sol de Janeiro. “As entrepreneurs themselves, Prelude Growth Partners really understood us. Their partnership approach and shared commitment to our vision was invaluable as we dramatically scaled our business, both in terms of product line and reach. Following two years of significant growth, we are ready to take our business to the next level and look forward to entering that chapter with L’OCCITANE.”
“It has been a privilege to support Sol de Janeiro to become a leading lifestyle skincare brand,” said Alicia Sontag, Co-Founder and Managing Partner at Prelude Growth Partners. “Born from an authentic Brazilian philosophy of self-love and joy, Sol de Janeiro delivers exceptional, iconic products to an ever-growing set of passionate consumers. We are proud to have played an integral role in the Company’s growth story over the past several years and are thrilled for Sol de Janeiro to become part of the L’OCCITANE family.”
L’Occitane company was founded in 1976 by Olivier Baussan with the purpose to create a company that celebrates and preserves the traditions of his native Provence. The company name means “the Occitan woman [in Provence]”. In 2010, the company became listed on the Hong Kong Stock Exchange.
The transaction is subject to customary closing conditions and regulatory approval.