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2x Partners Take Majority Stake in Surratt Beauty

Makeup artist Troy Surratt is looking to accelerate the growth of his eponymous brand with an infusion of capital from 2x Consumer Products Growth Partners. The Chicago-based investment firm has taken a majority interest in the brand.
Primarily a player in the organic foods sector, this is the second investment in the personal-care space for 2x Partners, which has also taken a stake in The Seaweed Bath Co.
Heidi Manheimer, previously chief executive officer of Shiseido Cosmetics America, has also invested in Surratt Beauty and is now executive chairman. Joyce Avalon, most recently chief merchant of Space Brands, is president. Surratt will take the title of chief creative officer and Nathaniel Hawkins, cofounder and Surratt’s personal partner, is director of creative services. Surratt remains the single largest individual shareholder of the brand.
Surratt and Hawkins launched Surratt Beauty about four years ago. Geared toward a luxury consumer, a key point of difference for the brand is that all of its products are manufactured in Japan. Today, Surratt is sold in more than 70 doors, including Barneys New York, Liberty of London, Mecca Cosmetica in Australia, Space NK, select Sephora and Bluemercury doors and on Netaporter.com. Industry sources estimate current retail sales in the

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