Dive Brief:
- As demand for wellness products increases, menstruation and personal care brand Rael announced it raised $35 million in Series B funding, according to a company press release. The round was led by Colopl Next and Signite Partners, with additional participation from Aarden Partners, ST Capital, Mirae Asset and Unilever Ventures.
- The brand, which has raised $59 million to date, will use the capital to develop new products, invest in its marketing strategy, expand into international markets and partner with retailers, according to the announcement.
- The company also hired Lauren Consiglio, who previously held senior marketing roles at Unilever and L’Oreal, to serve as its new president. Consiglio will focus on growing the brand’s retail and direct-to-consumer operations in the U.S., per the press release.
Dive Insight:
Since its founding in 2017, Rael has broadened its reach beyond the U.S. and South Korea to 12 other countries. The company so far is sold via retailers like Amazon, Target, Walmart, CVS and Walgreens, according to its announcement.
“We’re excited that with this new capital and strategic investors, we’ll be able to continue pushing the envelope in terms of product innovation to truly become a holistic wellness brand,” Yanghee Paik, CEO and co-founder of Rael, said in a statement. “We’re also looking to amplify our marketing to reach more customers and support our retail expansion while maintaining our leadership on Amazon. Ultimately, we want to become a global household brand and believe our new investors will be very helpful in accelerating our global expansion, especially in Asia.”
In addition to Rael, Walgreens added another wellness brand to its assortment last November: Hims & Hers. The pharmacy chain added the brand’s supplements, sexual health and wellness products on its website and in select stores. As beauty products and wellness products begin to merge as a product category, retailers like Walgreens, Walmart, Urban Outfitters and The Vitamin Shoppe have started adding more beauty products with health or medicinal appeal to consumers.
As Rael aims to enter new markets and add more retail partners, menstruation care competitors like Thinx are also seeking further growth. In February, Kimberly-Clark acquired a majority stake in Thinx for an undisclosed sum. Thinx plans to drive growth through Kimberly-Clark’s retail partners and grow its DTC channels. The following month, Thinx began selling its underwear across 558 Walmart stores and on the retail giant’s website. And in May, Meghan Davis was named CEO, succeeding Maria Molland, who had led the brand prior to the acquisition.
