Unilever Ventures, True Beauty Ventures invest in The 7 Virtues
Unilever’s venture capital arm, Unilever Ventures, is partnering with True Beauty Ventures to complete the first financing round for The 7 Virtues.
Founded in Canada in 2010 by Barb Stegemann, The 7 Virtues is the thesis of her best-selling book, “The 7 Virtues of a Philosopher Queen,” which serves as a woman’s guide to living and leading in an illogical world.
“We are thrilled to partner with Barb Stegemann and The 7 Virtues for Unilever Ventures’ first investment in fragrance. The 7 Virtues has cracked the code on creating long-lasting, perfumes using sustainable ingredients that their loyal customers love, along with their empowering and authentic story,” said Anna Ohlsson-Baskerville, partner at Unilever Ventures. “Driven by its philosophy, The 7 Virtues is elevating from an exciting indie brand to a legacy brand and we're delighted to be a part of its growth journey.”
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Featuring a high 22% fragrance oil concentration, the aromatherapy scents are designed to use the power of smell to push users toward their aspirations, the companies said.
Currently, The 7 Virtues’ fragrance collection features a mix of heroes including Vanilla Woods, Coconut Sun, Cherry Ambition, Lotus Pear and Santal Vanille, which are available exclusively on the brand’s website and at Sephora in 18 countries including Canada, U.S., U.K., Europe, Australia and New Zealand.
“We set out to change the world through fragrance, to sow the seeds of prosperity over conflict, and now our perfumes are peace. When Sephora took a chance on our little known brand in 2018, they told us they loved that we take on serious world issues, but we don't take ourselves too seriously,” said Stegemann, CEO of The 7 Virtues. “Our goal to advance period equity as a means to build peace by empowering women at home and abroad and giving them back control over their reproductive rights is the path to lasting change.”
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Ingredients are sustainably sourced from around the world, and the fragrances are also cruelty-free, hypoallergenic, and free of phthalates, parabens, formaldehyde, and sulfates, the companies said.
Barb Stegemann remains the majority shareholder with this financial investment.
“When an indie brand like The 7 Virtues outpaces brands with million dollar budgets, they prove the revenue potential is explosive with the right type of support, which we are excited to provide as this team takes The 7 Virtues to the next level,” said Rich Gersten, True Beauty Ventures co-founder and partner. “We were incredibly impressed by the brand's strong productivity in fragrance, due in part to the most innovative, authentic guerilla marketing tactics that resonate with clients.“