Los Angeles-based, fragrance-driven bodycare brand Salt & Stone has secured “significant investment” from New York-based investment firm Humble Growth.
Terms of the deal and the level of stake Humble Growth has taken in the skincare and fragrance brand were not disclosed, just that Salt & Stone would use the investment to continue “to build a world-class team of industry leaders while propelling the brand forward in its growth trajectory”.
In addition, Salt & Stone plans to deepen its global partnership with beauty emporium Sephora, while expanding its product and category offerings to cater to a worldwide consumer base.
Salt & Stone was founded in 2017 by former pro snowboarder Nima Jalali to elevate everyday routines into sensorial rituals through the power of fragrance, formula and design, rooted in active botanical ingredients sourced from the oceans and mountains.
Its fragrance portfolio has four distinct scents – Santal & Vetiver, Neroli & Basil, Black Rose & Oud, and Bergamot & Hinoki, which can be seen across deodorant, body mist, body wash and lotion.
Humble Growth invests in fragrance-driven bodycare brand Salt & Stone
Nima Jalali, founder and chief executive of Salt & Stone, said in a statement: “We’re experiencing a golden moment at Salt & Stone. With a lot of momentum, I found it a perfect time to partner with a strategic investor to help get us where we’re going more efficiently.
“I love that Humble Growth is founded by founders. Having a team on our side that understands things from a founder’s perspective is very important to me. Andrew and team are building something special, and we’re honoured to be a part of it.”
Humble Growth is a growth-focused investment firm co-founded by Dr. Andrew Abraham and Nick Giannuzzi with a 312 million US dollar debut fund dedicated to propelling the success of companies that are changing the way people eat, drink, feel, and live.
Commenting on the investment, Abraham added: “We are so excited to go on this journey with Nima and Salt & Stone. Our approach at Humble Growth is a differentiated one; we believe in forging true partnerships with fellow purpose-driven founders and entrepreneurs, and we have found those attributes in abundance in Nima and Salt & Stone.
“Like Nima, we know what it means to build a company brick-by-brick, and to achieve the kind of success Salt & Stone has seen in the last seven years is truly impressive and something we want to be a part of. We share Nima’s passion for innovation and his ambition to steer the beauty and wellness industry in a direction that prioritizes body and mind equally. We can’t wait to see where this partnership takes us.”