THE WHAT? Augustinus Bader has announced the closure of a US$15 million strategic funding round led by existing investor Impala and newcomer General Atlantic. The round saw the luxury skin care and hair care brand achieve a US$1 billion valuation.

THE DETAILS Charles Rosier, CEO of Augustinus Bader, said, “Reaching unicorn status is a very proud moment for the Augustinus Bader brand. We welcome an investor group of this calibre to our shareholder base as we focus on the strategic expansion of our business. We believe there is a significant opportunity to reach more customers globally and look forward to Augustinus Bader’s next phase of growth as we aim to redefine luxury skin and hair care.”

THE WHY? The investment will support the Augustinus Bader’s global growth including strategic scaling in China and key Asian markets as well as travel retail. In addition, the brand plans to drive increased brand awareness and marketing initiatives to maximise continued expansion in the US market.