Lys Beauty, the color cosmetics brand founded by Tisha Thompson, has landed a series A investment from Encore Consumer Capital.
Terms of the deal and Lys’ sales were not disclosed.
More from WWD
Encore Consumer Capital’s previous investments include Supergoop, Tarte Cosmetics, Love Wellness and Isopure.
Jamie Schwartz, a director at Encore, who will serve on the Lys Beauty board, said: “Lys’ product is truly innovative, its marketing strategies are on-point, and the white space ahead is tremendous. We choose our partners carefully and believe that Lys has every bit as much potential as two other transformational beauty brands that Encore has been privileged to partner with, Tarte and Supergoop.”
Thompson plans to use the investment on operations, inventory, marketing and expanding globally. That includes launching at 800 Kohl’s stores via Sephora on April 8.
“Having the resources to scale as demand for Lys Beauty grows feels like kismet, and I couldn’t be more excited for what’s ahead,” said Thompson. “Now, in a time when many believe the beauty industry, especially minority-led brands, are losing momentum, we are not only thriving but securing the support of an industry-leading investor, Encore, with a proven track record of spotting high-growth potential brands early on.”
Tisha Thompson
Thompson, a former accountant and marketing executive, launched the brand at Sephora in 2021 with six products. Today, there are around 15 product stock keeping units with bestsellers including No Limits Cream Bronzer Stick, $21; Higher Standards Cream Glow Blush Stick, $21, and Triple Fix Blurring Skin Tint Foundation, $25.
“We are thrilled to witness the continued growth of Lys Beauty since its launch in 2021. As the first Black-owned clean makeup brand to debut at Sephora, Lys Beauty is a leader in the space, offering accessible and inclusive beauty solutions that truly resonate with our clients, including their easily blendable cream stick formulas,” said Alison Hahn, senior vice president of makeup and fragrance merchandising at Sephora. “We look forward to continuing our partnership with Lys and supporting their mission of promoting self-confidence through beauty, which aligns closely with Sephora’s own values.”
The brand has also made a push on TikTok Shop, driving a more than 200 percent increase in year-over-year direct-to-consumer sales in 2024.
“TikTok has been a really big awareness play for us,” said Thompson. “It’s allowed us, even at Sephora, to rise and shine. We’re a brand new brand starting out so when you have virality really quickly on a platform like TikTok, it really helps your credibility.”
Next up, it will launch on TikTok Shop in the U.K.
Lys Beauty was advised by Toure Capital.
Best of WWD
Sign up for WWD’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.