NEW YORK--(BUSINESS WIRE)--Winky Lux, a trendsetting beauty brand known for its innovative products and commitment to clean, cruelty-free formulations, is pleased to announce a majority investment by CORE Industrial Partners (CORE), a private equity firm with more than $1.58 billion of capital commitments. This strategic partnership marks a significant milestone for Winky Lux and provides additional resources to accelerate growth and expand market reach. Terms of the transaction were not disclosed.
Founded in 2015, Winky Lux has rapidly gained recognition for its playful, high-quality cosmetics and skincare, including viral products such as Flower Balm, Universal Brow Pencil, and Peeper Perfect Concealer. With award-winning formulas and a strong online presence, the brand has captured a cult following among beauty enthusiasts worldwide. The Company’s ethos of authenticity, sustainability, and creativity aligns seamlessly with CORE’s investment philosophy.
CORE entered the beauty industry in 2020 through their investment in Cohere Beauty, a beauty and personal care contract-manufacturing platform. Leveraging a deep history of operating and investment experience, CORE is positioned to enhance Winky Lux’s ability to grow while preserving the brand’s unique identity and joy-focused approach.
Natalie Mackey, CEO and Co-Founder of Winky Lux, commented, “Joining forces with CORE is an exciting next step for Winky Lux. This partnership enables us to meet customer demand, scale our operations, maximize existing retailer partnerships with Target, ULTA and Shoppers Drug, and reach new heights in product innovation. We’re confident CORE’s experience and resources will help us achieve our long-term goals while staying true to our brand values of joy and creativity.”
The investment allows Winky Lux to fund the expansion of both its digital and brick-and-mortar retail channels, leveraging CORE’s strategic guidance and operational support. The CEO, Co-Founders and management team will all remain at the Company. In addition, Winky Lux has appointed industry veterans Zack Zavalydriga and Cassandra Batista to the Company’s Board of Directors.
John May, Managing Partner of CORE, said, “The growth prospects and underlying demand drivers of the beauty industry remain highly attractive and we're confident the strength of the Winky Lux brand combined with our resources and operational experience will assist their leadership team in executing against their long-term plans for growth. We are excited to further our participation in the beauty industry with the Winky Lux partnership.”
Raymond James served as the exclusive financial advisor to CORE in the transaction.
About Winky Lux
Winky Lux is a cosmetics and skincare brand founded in 2015, known for its high-quality, clean, and cruelty-free products. With a focus on innovation, inclusivity, and sustainability, Winky Lux offers a wide range of beauty products designed to inspire and delight customers worldwide. For more information, visit www.winkylux.com.
About CORE Industrial Partners
CORE is a private equity firm with more than $1.58 billion in total limited partner capital commitments across four funds investing in North American lower middle-market manufacturing, industrial technology and industrial services businesses. With offices located in Chicago, Austin and Cleveland, CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with families, entrepreneurs and management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.
