Lys Beauty receives Series A investment from Encore Consumer Capital
Lys Beauty has closed its Series A funding round, securing an eight-figure investment despite the ongoing DEI rollbacks and global funding slowdown.
Founder and CEO of the brand, Tisha Thompson, shared that the investment from Encore Consumer Capital will help the company’s next phase of growth, including product innovation, inventory expansion, hiring and global marketing initiatives.
“Having the resources to scale as demand for Lys Beauty grows feels like kismet, and I couldn’t be more excited for what’s ahead,” Thompson said. “Now, in a time when many believe the beauty industry, especially minority-led brands, are losing momentum, we are not only thriving but securing the support of an industry-leading investor, Encore, with a proven track record of spotting high-growth potential brands early on.”
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Since its debut in 2021, Lys Beauty has worked to become a cult classic and category leader at Sephora, the brand noted.
"We are thrilled to witness the continued growth of Lys Beauty since its launch in 2021," said Alison Hahn, senior vice president of makeup and fragrance merchandising at Sephora. "As the first Black-owned clean makeup brand to debut at Sephora, Lys Beauty is a leader in the space, offering accessible and inclusive beauty solutions that truly resonate with our clients, including their easily blendable cream stick formulas. We look forward to continuing our partnership with LYS and supporting their mission of promoting self-confidence through beauty, which aligns closely with Sephora’s own values.”
Encore Consumer Capital has invested in a variety of other brands, including Supergoop!, Tarte Cosmetics, Love Wellness, and Isopure. With the investment, Thompson will retain majority ownership.
“We are delighted to be partnering with Tisha as she grows this special brand," said Jamie Schwartz, board member of Lys Beauty. "Lys’s product is truly innovative, its marketing strategies are on-point, and the white-space ahead is tremendous. We choose our partners carefully and believe that Lys has every bit as much potential as two other transformational beauty brands that Encore has been privileged to partner with, Tarte and Supergoop!. Tisha is talented and inspirational leader, and we are honored that she chose Encore to be her partner.”
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This investment comes at a pivotal time as Lys Beauty prepares to expand into Sephora at Kohl’s, launching in more than 800 stores on April 8, the brand noted.
“When launching this brand in 2021, I could have never imagined the heights we would reach in just a few years–especially having navigated a global pandemic and the supply chain crisis that followed,” said Thompson. “Consumers today are seeking brands that champion self-expression and non-conformity. For too long, beauty has been about altering one’s appearance, but we’re in an era where people want to connect with their true selves. Our success reflects this shift, and we’re honored to be part of a movement that celebrates authenticity.”
Lys Beauty was exclusively advised by Michael Toure, founder of Toure Capital in this transaction.
