NEW YORK--(BUSINESS WIRE)--MAËLYS, a fast-growing, direct-to-consumer (DTC) body care brand, today announced a minority investment from Norwest, a leading global investment firm. The investment will support MAËLYS’ rapid international growth, help scale operations to meet increasing consumer demand, launch new products and expand the team globally. Sonya Brown, Norwest General Partner, will join MAËLYS’ Board of Directors.
MAËLYS was founded in 2017 with the mission to deliver the best, most innovative ways to solve real problems for real women. Always one step ahead, MAËLYS’ in-house team utilizes data tools and capabilities to further enhance customer personalization and experience. The brand is known for formulating revolutionary solutions to help shape, lift and firm a woman’s body - no matter her size, shape or skin type. MAËLYS’ vision has helped redefine the traditional body care market with an ever expanding range of body focused products where women see real results. The brand has built a loyal and global customer base of women, and is a favorite among young mothers and millennials. MAËLYS makes it a top priority to listen to, and engage with its community, to ensure that the brand is formulating high performance tech-meets-skincare solutions.
MAËLYS' core focus of growing its DTC brand, driven by a unique combination of data, technology and marketing, is generating exceptional growth with a revenue run rate of $100 million, representing 400% year-over-year growth.
Norwest will join the current shareholders that include Barinboim Group, the controlling shareholder of the company and a leading private equity firm founded by Zvika Barinboim, Leumi Partners, a global merchant and investment banking platform, and MAËLYS' founders.
“We’re excited to join forces with Norwest as we move on to the next phase of growth for MAËLYS,” said Rom Ginzburg, MAËLYS CEO. “We are in a unique position to cement our place as the leader in the body care market by introducing a one of a kind product innovation pipeline, utilizing a data-driven approach, while also building a strong following. We look forward to working alongside Norwest, as their deep knowledge in the consumer space makes them the ideal partner for us.”
“We see a tremendous opportunity for MAËLYS to build upon its recent momentum by continuing to disrupt the body care market of beauty and personal care with its authentic, inclusive brand," said Sonya Brown, General Partner at Norwest. "Rom and his team have done amazing work with their fresh product formulations, body positive ethos, and bespoke customer experience. Together, we believe our partnership will drive MAËLYS to even greater heights of success."
Norwest has significant experience investing globally in consumer focused brands. Current and past investments include Casper, Jet, Spotify, Uber, Kendra Scott, Madison Reed and PCA Skin.
Founded in 2017, MAЁLYS (pronounced may-lees) is an online DTC brand that has quickly become a pioneer and disruptor in the body care market. MAЁLYS is known for formulating product innovations to shape, lift and firm a woman’s body. MAЁLYS unapologetically innovates around the unaddressed parts of a woman’s body, while inspiring positive body conversations and making the bold statement that all bodies are meant to be celebrated. Within a few years, what started as an international brand has become an international community.
About Norwest Venture Partners
Norwest is a leading venture and growth equity investment firm managing more than $9.5 billion in capital. Since our inception, we have invested in more than 600 companies and partner with over 150 active companies currently in our venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com. Follow Norwest on Twitter @NorwestVP.