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Supergoop! and Blackstone Growth (BXG) Partner with New Investors to Teach Even More People About the Importance of Daily SPF
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Supergoop! and Blackstone (BX) have announced a new partnership, adding a diverse group of investors from various sectors, including entertainment and entrepreneurship. Founded in 2005 by Holly Thaggard, Supergoop! is committed to innovative SPF products. Following a majority investment from Blackstone Growth (BXG) in 2021, the brand aims to expand its global reach and raise awareness about sun protection. CEO Amanda Baldwin emphasized the importance of education and creating groundbreaking products as the company enters a new growth phase.
Positive
New partnership with high-profile investors enhances brand visibility.
Commitment to innovative SPF products aligns with growing sun protection awareness.
Majority investment from Blackstone Growth is expected to fuel expansion efforts.
Negative
None.
New partnership follows previously announced majority investment from Blackstone Growth (BXG)
SAN ANTONIO & NEW YORK--(BUSINESS WIRE)--
Supergoop!, the first skincare brand that puts SPF at the forefront, and Blackstone (NYSE:BX), a leading global investment firm, today announced a partnership with a world-class set of investors from the realms of business, media and entertainment, including:
Hugh Jackman, Jenna Lyons and Michelle Wie
Iconic female entrepreneurs from within Blackstone’s portfolio, including Sara Blakely, Founder of SPANX, and Whitney Wolfe Herd, Founder and CEO of Bumble, among others
Main Street Advisors and the I Promise School, as well as G9 Ventures, founded by Amy Griffin, and SC Holdings
Supergoop! was founded by former teacher and skincare industry pioneer Holly Thaggard in 2005, after a close friend was diagnosed with skin cancer at age 29. The brand’s mission since day one has been to develop highly innovative dermatologist-approved SPF products with clean ingredients that feel good to wear, making it easier to incorporate daily sun protection into everyday routines. Today, led by CEO Amanda Baldwin, Supergoop! has created a new category of daily-use SPF for everyone, and is looking forward to a new phase of growth as it introduces its award winning-formulas to even more people across the globe.
Holly Thaggard, Supergoop! Founder and Chair of the Board, said: “We are incredibly grateful to welcome this inspiring group of investors to Supergoop!, and for all of the support Blackstone has shown our business. We’re humbled by their excitement to join our mission of encouraging people around the world to protect their skin and create new daily routines and habits, and we are more ready than ever for our next phase of growth.”
Amanda Baldwin, CEO of Supergoop! said: “We’re thrilled to see continued business momentum as part of Blackstone’s network, and the support of our new investors marks a new growth chapter for the brand. We are doubling down on our mission to create groundbreaking products as we educate as many people as possible on the importance of daily SPF. We have more work to do to truly reach our ambitious goals and our team is ready and motivated for the road ahead as we continue to change the way the world thinks about sunscreen.”
These partnerships follow a majority investment in Supergoop! by funds managed by Blackstone Growth (BXG) in late 2021 to help fuel Supergoop!’s commitment to launching category-creating innovations; driving consumer behavior change through education and best-in-class brand marketing; and expanding the company’s national and global reach. These new investors share Supergoop!’s commitment to raising awareness of the need for and expanding access to everyday SPF protection, including through the company’s Ounce by Ounce program, which has donated more than 4,300 SPF pumps to over 1,600 schools and youth organizations across America. One of the most exciting elements of this new phase of the brand will include a collaboration with the I Promise School to provide both educational materials as well as plenty of Supergoop! to ensure that young children and their families understand the importance of sun protection every day of the year.
Ann Chung, Global Head of Consumer for Blackstone Growth (BXG), said: “Supergoop!’s tremendous growth is a major testament to the progress Holly, Amanda and the team have made to shift consumer behavior toward daily SPF use, which is not only resonating with customers but has drawn support from this passionate set of investors who are at the top of their respective industries. We’re honored to bring these new partners on board as we work to amplify Supergoop!’s mission and accelerate its global growth.”
About Supergoop!
Holly Thaggard launched Supergoop! to stop the skin cancer epidemic and change the way the world thinks about sunscreen. Supergoop! creates highly innovative, feel-good products that make integrating SPF into everyday routines easy (and fun!) in order to inspire consumers to do the number one thing they can for their skin- wear SPF! For more information, visit www.supergoop.com.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
What is the new partnership announced by Supergoop and Blackstone (BX)?
Supergoop! announced a partnership with a group of investors from various sectors, including entertainment, to enhance its brand visibility and growth.
Who are some notable investors in Supergoop!'s partnership with Blackstone (BX)?
Notable investors include Hugh Jackman, Jenna Lyons, Michelle Wie, and entrepreneurs like Sara Blakely and Whitney Wolfe Herd.
When did Blackstone (BX) make a majority investment in Supergoop!?
Blackstone Growth (BXG) made a majority investment in Supergoop! in late 2021.
What are Supergoop!'s goals following its partnership with Blackstone (BX)?
Supergoop! aims to expand its global reach and promote daily SPF use through innovative products and educational initiatives.
How does Supergoop! contribute to community awareness about sun protection?
Supergoop! has launched the Ounce by Ounce program, donating SPF products to schools and youth organizations to raise awareness of sun protection.
