Women-Led Ultra Violette Secures $15M Investment for Expansion

Ultra Violette, a Melbourne-based sunscreen firm, has acquired a major $15 million investment from US-based Aria Growth Partners, marking a key milestone as the brand prepares to expand into the lucrative North American market. This is Ultra Violette's first external capital injection, occurring on the eve of the brand's fifth anniversary.

Ultra Violette was founded in 2019 by Rebecca Jefferd and Ava Chandler-Matthews, who came up with the idea while working at Mecca Cosmetica. The company has already had success in Sephora Australia and has expanded into 12 European markets, New Zealand, Hong Kong, and South-East Asia, as well as global presence in Net-A-Porter, Space NK, Liberty, and Harrods in the UK.

With Aria Growth Partners' support, Ultra Violette sets its eyes on North America, with plans to launch in Sephora Canada in March 2024 and expand into the US market by 2025.

Rebecca Jefferd emphasized Aria's strategic importance, saying, "This capital raise is not about the money; it's about seizing the opportunity to expand into North America." "We want the resources and knowledge to enter that market." After the investment, the founders, Chandler-Matthews and Rebecca, will retain controlling ownership and continue to oversee the firm.

This move follows a larger trend of Australian cosmetic and beauty businesses acquiring worldwide traction. Notable instances include L'Oréal's $2.5 billion acquisition of Aesop, Kao Corporation's $450 million acquisition of Bondi Sands, and private equity firm Gauge Capital's investment in Loving Tan last July.