Salt & Stone announces a significant investment from Humble Growth
LOS ANGELES, Aug. 7, 2024 /PRNewswire/ -- Salt & Stone, the Los Angeles-based, fragrance-driven body care brand, announces a significant investment from Humble Growth.
Founded in 2017 by former pro snowboarder Nima Jalali, Salt & Stone elevates everyday routines into sensorial rituals through the power of fragrance, formula and design. In just seven years, Salt & Stone is primed to become a global megabrand with a dedicated worldwide following and a recent global rollout with Sephora. With innovation across award-winning deodorant, body care and fragrance, Salt & Stone sells one product every seven seconds and has profitably achieved consistent triple-digit year-over-year revenue growth.
Uniting Jalali's passion for surfing and snowboarding, the brand's active botanical ingredients are sourced from the oceans and mountains and formulated alongside impactful functional fragrances. The now iconic fragrance portfolio transcends four distinct realms – Santal & Vetiver, Neroli & Basil, Black Rose & Oud, and Bergamot & Hinoki – across deodorant, body mist, body wash and lotion.
The most recent innovation, Salt & Stone Body Mist, is a nutrient-rich fragrance mist that is gentle enough to wear on every inch of skin. Honoring the brand's commitment to body and mind, glycerin and red algae offer significant skin health benefits while the fragrances run parallel to the signature scents found in the existing lineup.
Humble Growth is a growth-focused investment firm co-founded by two celebrated leaders in the consumer industry, Dr. Andrew Abraham and Nick Giannuzzi. The firm is dedicated to propelling the success of disruptive, industry-shaping companies that influence how we eat, drink, feel and live, through authentic partnerships built on empathy and humility. Between them, Humble Growth's co-founders have assembled a team with decades of investing experience across food, beverage, beauty and wellness.
"We're experiencing a golden moment at Salt & Stone. With a lot of momentum, I found it a perfect time to partner with a strategic investor to help get us where we're going more efficiently," says Nima Jalali, Founder and CEO of Salt & Stone. "I love that Humble Growth is founded by founders. Having a team on our side that understands things from a founder's perspective is very important to me. Andrew and team are building something special, and we're honored to be a part of it."
"We are so excited to go on this journey with Nima and Salt & Stone," says Dr. Abraham. "Our approach at Humble Growth is a differentiated one; we believe in forging true partnerships with fellow purpose-driven founders and entrepreneurs, and we have found those attributes in abundance in Nima and Salt & Stone. Like Nima, we know what it means to build a company brick-by-brick, and to achieve the kind of success Salt & Stone has seen in the last seven years is truly impressive and something we want to be a part of. We share Nima's passion for innovation and his ambition to steer the beauty and wellness industry in a direction that prioritizes body and mind equally. We can't wait to see where this partnership takes us."
With Humble Growth's investment, Salt & Stone will continue to build a world class team of industry leaders while propelling the brand forward in its growth trajectory. Additionally, the company plans to deepen its global partnership with Sephora and expand product and category offerings to satisfy its enthusiastic legion of fans worldwide.
About Salt & Stone
Salt & Stone is a Los Angeles-based skin care and fragrance brand with global distribution across DTC, Sephora and select retail partners. Founder and former pro snowboarder Nima Jalali concepted the brand out of a passion for mindful daily rituals and an active outdoor lifestyle. Since launching in 2017, Salt & Stone has achieved explosive growth with its line of elevated self-care essentials and iconic fragrances that deepen a connection to the natural world. Salt & Stone is driven by a simple yet powerful mission to create premium products for those who are active in body, mind and spirit.
Learn more at www.saltandstone.com and @saltandstone on social media.
About Humble Growth
Humble Growth is a New York-based investment firm with a $312 million debut fund dedicated to propelling the success of companies that are changing the ways people eat, drink, feel, and live. The firm's co-founders include Andrew Abraham, Founder and CEO of Orgain®, and Nick Giannuzzi, Founder of Giannuzzi Lewendon. Humble Growth's fund focuses primarily on minority-stake investments in high-growth, disruptive companies operating in the food, beverage, beauty and personal care, health and wellness, pet, and household products spaces. The recency and depth of operating experience by its co-founders, complemented by a seasoned investment team, allow the firm to provide highly unique and valuable strategic and tactical support to its partner companies, imbued with empathy, humility, and an unwavering commitment to success. For more information, please visit www.humblegrowth.com.
SOURCE Salt & Stone
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