Peterson Partners invests $15 million in Gloss Ventures, parent company of Sacheu Beauty and Glossmetics.
The growth capital from Salt Lake City-based firm Peterson Partners comes as the, launched in 2021 in partnership with influencer Sarah Cheung and Third Act Ventures, generated more than $40 million in revenues last year and is currently on track to hit $100 million in the next couple of years.
TikTok went dark in the U.S. Saturday after being banned, but came back Sunday when then President-elect Donald Trump, who was inaugurated Monday, provided the app with necessary assurances that he would extend the period of time before the law’s prohibitions take effect. Gloss Ventures also owns Glossmetics, a skin care brand which was launched 2023, targeting Generations Alpha and Z.
For now, Roukema told WWD it is focused mainly on these two brands and is not working on developing anything new. Instead, the funds will be used to invest in
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