Latest Entries

Joe Fresh, Club Monaco Founder Joe Mimran Invests in Lunata Hair

Joe Mimran, founder of Joe Fresh, Club Monaco and Alfred Sung, is now betting on beauty tech.
As part of his quest to build out his Gibraltar & Co. portfolio, Mimran has invested in Lunata Hair. Founded in 2017 by Monica Abramov and Anastassia Boguslavskaya, Lunata Hair specializes in wireless and portable styling products, including hair straighteners and curling wands. No financial details were released. However, Mimran believes the company can easily surpass the $100 million sales mark.
Mimran first met Abramov and Boguslavskaya when he was a judge on Canada’s “Dragons’ Den” — a format similar to “Shark Tank” — when they pitched another concept called Shopbake. While that didn’t get his thumbs-up, the duo’s launch of cordless tools netted his approval. “Sometimes when you invest in small companies, the idea is always important, but it is the jockey that matters. In this case, I felt both of them had the right attitude and talking about a market that I think is interesting.”
He pointed to the potential in beauty tech, which is expected to surpass sales of $97 billion annually by 2023. Mimran sees a wealth of product opportunities for the brand. “When I make an investment, I like to see there is a lot of

Follow WWD on Twitter or become a fan on Facebook.

Read More…

Via:: https://wwd.com/beauty-industry-news/hair/mimran-invests-in-lunata-haair-1202924983/