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Bellami Hair Nabs $20M From Cathexis to Ramp Product, Salon Growth

LOS ANGELES — Bellami Hair struck a deal with private equity firm Cathexis Holdings LLP for $20 million in exchange for a minority stake in the hair extension firm as it hits the green light on growth.
The company, with a business that includes hair extensions and six hybrid salon-retail store concepts, has another $100 million to work with from Cathexis available on an as-needed basis as it works through a five-year growth strategy, according to Bellami ceo Julius Salerno. He cofounded the business with Nikki Eslami in 2012.
The deal with Cathexis marks the first time the two have taken outside funding after launching the business with $7,000.
Bellami’s seen rapid growth, specifically between the tail end of 2017 and into this year when it opened five of its six store concepts.
“It’s the right time [for outside capital] because we just launched an entirely new collection being Bellami Professional, which continues to be our largest focus we’re going to have moving forward,” Salerno said. “The size of the opportunity in that particular category of permanent extensions, we knew we were going to need quite a bit more inventory to satisfy the demand that we had. We knew we could fund it ourselves

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Via:: https://wwd.com/beauty-industry-news/hair/bellami-hair-20-million-investment-cathexis-1202908498-1202908498/