SUGARED + BRONZED, the nation’s largest sugaring and sunless tanning destination, announced today it has received a strategic growth investment from Main Post Partners, a San Francisco-based private equity firm with deep experience partnering with high growth consumer companies.
Founded in 2010 by Courtney Claghorn and Sam Offit, SUGARED + BRONZED provides high quality and efficient hair removal and sunless tanning services at an affordable price point in a luxury setting. By focusing exclusively on airbrush tanning and sugaring, a specialized form of hair removal that uses a sugar paste consisting of just sugar, lemon, and water to extract hair, SUGARED + BRONZED ensures clients leave with smooth skin and a flawless tan. The Company, which currently operates 10 locations across Los Angeles, Orange County, New York, and Philadelphia, offers services through an a la carte and membership model, providing ultimate flexibility and value for clients.
“In my early 20’s, I realized that a healthy skincare regimen was directly related to when I felt the most comfortable in my own skin. Much like our client base, I feel my best with tan, smooth skin, but never wanted to spend a fortune on routine beauty services or subject myself to the damaging effects of UV-rays or the risks of waxing. At SUGARED + BRONZED, I love that we’re able to provide our clients with services that are affordable, safe, and most importantly, enhance the ability to cultivate self-confidence,” said Claghorn, Co-Founder and President.
When Claghorn and Offit started the company at the age of 23 they never imagined it would grow so rapidly. “Ignorance is certainly bliss, so we were lucky in that we never capped our potential, but at the same time, we didn’t expect it to be what it is today. When we started this out of our apartment, we always had our sights on growing the business, but we’ve been humbled by our enthusiastic clients, hardworking team, and our amazing private equity partners, which, quite frankly, were all beyond our 23 year-old imaginations. We have consistently been surprised along the way by the initial popularity of the concept (especially given our humble beginnings), the synergy of our two services and the reception in new markets,” says Claghorn
Main Post’s investment will be used to support new product growth, location expansion and strategic marketing opportunities to further drive awareness of the Company’s specialized services for hair removal and sunless tanning. “We are thrilled to partner with Main Post. It is incredibly rare to find investors who are dedicated to preserving our company culture and maniacal focus on quality. They immediately understood our vision of investing in our team, training, and products to create unparalleled client experiences in our sector,” says Offit, co-founder and CEO.
Claghorn and Offit off this advice for other entrepreneurs looking to raise capital, “When going into the search for the right investment partner, take the time to really educate yourself, learn the language and terminology, talk to other people who have done it before. Reach out to other entrepreneurs who have raised in similar industries. Be conscious of giving up too much equity too early. The phrase “giving up the farm” may be ancient, but it is still a very real thing.”
They also advise that when you are selecting a financial partner, ensure that your vision for the business is aligned. “Meeting with potential firms is like dating, due diligence is like engagement and a partnership is like marriage, so don’t rush into it,” says Offit and Claghorn.