The Dodo Group announced on Monday it has partnered with Luxury Brands to invest in U.S. pro-ageing skincare brand Prai Beauty. Financial terms of the investment were not disclosed.
Prai Beauty
The strategic move positions Prai Beauty for rapid expansion, according to a press release.
Founded by Cathy Kangas in 1999, Prai Beauty is a skincare brand focused on the 50-plus market. Since its debut, the brand has began known for its science-backed formulations that target the face, neck and décolletage region.
“Prai Beauty has built an impressive reputation as a leader in targeted skincare solutions,” said Michael Dodo, co-founder and chairman of Luxury Brands, an investment firm founded in 2011 that specialises in acquiring and investing in long-standing businesses across beauty, luxury brands, retail, and food & beverage sectors.
“We see tremendous potential for expansion across direct-to-consumer, TV shopping, and retail channels. Our investment will focus on accelerating R&D and marketing initiatives to elevate the brand’s presence globally.”
As part of the investment from Dodo and Luxury Brands, Kangas will continue to lead the heritage skincare brand, “ensuring continuity and innovation,” ahead of its new new phase of growth.
“This partnership marks an exciting milestone for Prai Beauty. With the strategic support of Dodo Group and Luxury Brands LLC, we are poised for unprecedented global expansion,” said Kangas.
“I look forward to collaborating with Michael Dodo and his team to bring our innovative skincare solutions to even more consumers worldwide.”
Founded in 2017, Luxury Brands is a conglomerate with a diverse portfolio of subsidiary companies and brands including Youngblood Mineral Cosmetics and Skincare, FHI Heat, Stylus, Neo Bond, Hair Veil, Daily Beauty, and more.
