The cosmetic and beauty product stores industry in Benelux has witnessed remarkable growth, driven by evolving consumer preferences for personal care and wellness. This sector includes both established beauty retailers and emerging startups, offering a variety of products from skincare and makeup to fragrance and hair care. An increasing focus on sustainability and inclusiveness dramatically shapes innovation and product offerings in this market. With a range of distribution channels, from e-commerce platforms to brick-and-mortar stores, the industry's future looks promising. According to recent trends, natural beauty products are gaining momentum, appealing to ethically-conscious consumers seeking healthier skincare options.


In the dynamic landscape of cosmetic and beauty product stores investment, a diverse array of investors is making significant strides. The list showcases a mix of private equity firms, venture capitalists, and corporate investors, each varying in size from small boutique funds to large multinationals. Headquartered across Benelux, with players from Luxembourg, Belgium, and the Netherlands, these firms were founded between the late 1800s to the modern day. In 2024 alone, these investors completed numerous transactions, underscoring their commitment to nourish growth in the beauty sector.


Top 15 Cosmetic and Beauty Product Stores Investors in Benelux


1. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a leading investment firm specializing in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. Founded in 2005 and based in Luxembourg, CVC focuses on delivering sustainable value and growth through strategic investments. Among their notable transactions in the cosmetic and beauty product stores sector are the acquisitions of Douglas Holding, a major beauty retailer, for $3 billion in 2015, and Matas, a Danish retail chain with a strong presence in beauty products, acquired in 2007. These investments highlight CVC's commitment to the beauty industry and their strategy of investing in companies that can deliver growth and value in this sector.


2. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, founded in 2001. As a specialty chemical distributor and innovation service provider, Azelis caters to over 63,000 customers across various sectors, including life sciences and industrial markets. In recent years, Azelis has significantly expanded its footprint in the personal care and cosmetics industry through strategic acquisitions. Notable transactions include the acquisition of Ross Organic, a distributor in the personal care market in the Western US, and Eurotrading, which strengthens their position in the Italian personal care market. Additionally, Azelis acquired Chemical Solutions Sdn Bhd, a leading distributor in Malaysia's personal care and cosmetics market, focusing on the growing Halal cosmetic sector. They also acquired Vigon International, which specializes in ingredients for the flavors, fragrances, and cosmetics markets. These acquisitions demonstrate Azelis' commitment to enhancing its resources and capabilities in the cosmetic and beauty product sectors.


3. Verlinvest

  • Website: verlinvest.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: verlinvest

Verlinvest is a venture capital investment firm based in Brussels, Belgium, founded in 1995. The firm specializes in providing long-term capital and strategic advisory services to high-growth consumer brands across various sectors, including food, beverage, health, and technology. Notably, Verlinvest has made significant investments in the beauty industry, including a Series A funding round for Juicy Chemistry, an organic skin and personal care brand, which raised $6.3 million to enhance its position in the clean and organic beauty segment. Additionally, they acquired a minority stake in Cible Skin, a skincare brand based in Paris, further demonstrating their commitment to the beauty sector. Their portfolio reflects a diverse range of companies that prioritize consumer needs and sustainable practices, making them a relevant player in the cosmetic and beauty product stores market.


4. Coty

  • Website: coty.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1904
  • Headcount: 10001+
  • LinkedIn: coty

Coty Inc. is a leading beauty company founded in 1904, headquartered in Amsterdam, Netherlands. The company specializes in the development, manufacturing, and distribution of a diverse range of beauty products, including fragrances, cosmetics, and skin care. Coty serves both consumers and beauty professionals, emphasizing innovative solutions that celebrate diverse beauty. The company has made several strategic acquisitions to enhance its portfolio, including a 60% stake in Younique for approximately $600 million in 2017, the acquisition of Kylie Cosmetics for $600 million in 2019, and the purchase of Philosophy Beauty in 2010. Additionally, Coty acquired OPI Products, known for its nail lacquers, further expanding its presence in the color cosmetics category. These transactions highlight Coty's commitment to growth and innovation within the beauty industry, with a strong focus on sustainability and inclusivity.


5. Vendis Capital

  • Website: vendiscapital.com
  • Type: Private Equity
  • Headquarters: Machelen, Flanders, Belgium
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: vendis-capital

Vendis Capital is a private equity investment firm based in Machelen, Flanders, Belgium, founded in 2009. The firm specializes in consumer scale-ups, providing capital and strategic support to help businesses grow internationally and implement effective digitalization strategies. Vendis Capital focuses on collaboration with entrepreneurs to enhance market presence and achieve sustainable growth. In recent years, they have made significant investments in the beauty sector, including acquiring a majority stake in Skins Cosmetics, a Dutch luxury niche beauty retailer with 20 stores across the Netherlands, Belgium, and South Africa. Additionally, they acquired the Dutch medispa chains SOAP and BM Clinics, further solidifying their commitment to the beauty industry. These transactions highlight Vendis Capital's active role in supporting and expanding businesses within the cosmetic and beauty product stores market.


6. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a venture capital investment company based in Brussels, Belgium, founded in 1898. The firm specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. Notably, Sofina has made significant investments in the beauty sector, particularly in Mamaearth, a well-known brand in the personal care industry. They participated in multiple funding rounds for Mamaearth, including a $50 million Series C round in July 2021 and a $37.5 million venture round in December 2021, demonstrating their commitment to supporting growth in the cosmetic and beauty product market.


7. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation in diverse sectors. Notably, the EIC has been involved in funding projects relevant to the cosmetic and beauty industry, such as UVera, a biotech startup that raised over $2.9 million to develop a sustainable sunscreen product. Additionally, the EIC has supported Kern Tec, a company focused on creating products from stone fruit seeds, which may have applications in beauty and personal care. These transactions highlight the EIC's engagement with innovative projects that intersect with the cosmetic and beauty product sector.


8. Prosus Group

  • Website: prosus.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2019
  • Headcount: 10001+
  • Number of deals in 2024: 21
  • LinkedIn: prosus-group

Prosus Group is a global technology investor and operator based in Amsterdam, Netherlands, founded in 2019. The firm focuses on enhancing everyday life through technology across various sectors, including online classifieds, food delivery, payments, and education technology. Notably, Prosus has made significant investments in the cosmetic and beauty product industry, including a $10 million Series B investment in Beauty Haul and a substantial $150 million Series D funding round for The Good Glamm Group, which also included participation from other notable investors like L’Occitane and Amazon. These transactions highlight Prosus's strategic interest in the beauty sector, aiming to foster innovation and growth within this market.


9. V3 Ventures

  • Website: v3.ventures
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2022
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: v3-venture

V3 Ventures is a venture capital firm based in Brussels, Belgium, founded in 2022. The firm specializes in investing in early-stage consumer businesses across various sectors, including wellness, food, and lifestyle. V3 Ventures aims to support founders by providing capital and strategic guidance to help them build strong brands and achieve growth. Notably, they have participated in significant transactions relevant to the beauty industry, such as Revea, which raised $6 million to enhance its mobile experience and expand its manufacturing capabilities, and SURI (Sustainable Rituals), which raised approximately $7.7 million in Series A funding to promote sustainable beauty practices. These investments highlight V3 Ventures' commitment to the cosmetic and beauty product sector, making them a relevant player in this space.


10. Quadrivio Group


Quadrivio Group is a private equity firm based in Luxembourg, founded in 2000, specializing in investment management with a focus on transforming SMEs into small multinationals. The firm manages specialized funds across various sectors, including Lifestyle, Industry 4.0, and Silver Economy. Notably, Quadrivio has made significant investments in the cosmetics industry, acquiring a 60% stake in Rougj, a natural cosmetics producer, for approximately €13 million, and a 70% stake in Farmol, a cosmetics and detergents manufacturer, for €20.5 million. These strategic acquisitions highlight Quadrivio's commitment to enhancing growth and expanding market presence in the beauty sector, making it a relevant player in the cosmetic and beauty product stores investment landscape.


11. dsm-firmenich

  • Website: dsm-firmenich.com
  • Type: Venture Capital
  • Headquarters: Maastricht, Limburg, Netherlands
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, specializing in the nutrition, health, and beauty sectors. With a workforce of over 10,000 employees, the company is dedicated to providing innovative solutions that enhance product offerings and address sustainability challenges. Notably, dsm-firmenich has been involved in several relevant transactions in the beauty and health space, including a $3.5 million investment in Tespo, which focuses on health and beauty supplements, and a $7 million investment in OK Capsule, which also aligns with beauty and wellness. These transactions highlight dsm-firmenich's active role in supporting companies that contribute to the cosmetic and beauty product industry.


12. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Notably, Exor has made significant investments in the beauty sector, including a 24% stake acquisition in the French luxury brand Christian Louboutin for approximately $643 million, aimed at enhancing the brand's presence, particularly in China. Additionally, Exor has invested in companies like Apparis and Because Market, which are involved in fashion and beauty, further demonstrating its engagement in the cosmetic and beauty product stores industry. Exor focuses on enhancing value through strategic investments and operational support, making it a versatile investor in various sectors, including beauty.


13. Pitchdrive

  • Website: pitchdrive.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn:

Pitchdrive is a venture capital firm based in Antwerp, Flanders, Belgium, founded in 2018. The firm specializes in early-stage investments in startups, providing both funding and mentorship to entrepreneurs. With a focus on innovative business models, Pitchdrive has made 16 investments in 2024 alone. Among their notable transactions, they invested in Openface, a startup that offers personalized skincare solutions, which highlights their engagement in the cosmetic and beauty product sector. Other investments include Toot, Project Cece, and BRAUZZ., but Openface stands out as a clear connection to the beauty industry, showcasing Pitchdrive's commitment to supporting startups that address skincare challenges through technology and innovation.


14. Eurofins

  • Website: eurofins.com
  • Type: Corporate
  • Headquarters: Luxembourg
  • Founded year: 1987
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: eurofins

Eurofins Scientific SE is a prominent laboratory testing company based in Luxembourg, founded in 1987. With a global presence, Eurofins operates over 900 laboratories in 62 countries, providing a wide range of analytical and testing services across various industries, including pharmaceuticals, food, and environmental sectors. In recent years, Eurofins has expanded its capabilities in the cosmetic industry by acquiring Laboratoire Dermscan, a clinical research company that specializes in evaluating the tolerance and effectiveness of cosmetic products on the skin. This acquisition highlights Eurofins' commitment to enhancing its services in the cosmetic sector, making it a relevant player in the beauty product industry. Additionally, their extensive expertise in testing and diagnostics positions them as a valuable partner for businesses seeking compliance and quality assurance in their cosmetic offerings.


15. Sgh

  • Website: sghcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: sghcapital

SGH Capital is a venture capital firm founded in 2015, based in Luxembourg, that specializes in investing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. They provide capital and strategic support to innovative businesses primarily in the US and western Europe. Notably, SGH Capital has participated in funding rounds for Scentbird, a New York-based startup that offers a subscription service for fragrances, raising a total of $3.8 million since its seed round in 2015. This involvement in Scentbird highlights SGH's interest in the cosmetic and beauty product sector, despite their broader focus on technology-driven industries.



Cosmetic and Beauty Product Stores Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
AzelisAntwerp, Flanders, Belgium1001-500020015
VerlinvestBrussels, Brussels, Belgium11-5019955
CotyAmsterdam, North Holland, Netherlands10001+19040
Vendis CapitalMachelen, Flanders, Belgium11-5020093
SofinaBrussels, Brussels, Belgium51-20018984
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Prosus GroupAmsterdam, North Holland, Netherlands10001+201921
V3 VenturesBrussels, Brussels, Belgium1-1020229
Quadrivio GroupLuxembourg11-5020003
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
PitchdriveAntwerp, Flanders, Belgium11-50201816
EurofinsLuxembourg10001+19878
SghLuxembourg1-1020153


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