Prestige hair line Crown Affair, known for its emphasis on air-drying hair and natural styling techniques, has secured $9 billion in Series B funding led by investment firm True Beauty Ventures.
This marks the four-year-old labelâs fourth investment from True Beauty Ventures, which also led its $5 million Series A round in 2022. The funding will be applied to power Crown Affairâs Sephora expansion and marketing and make new hires as it scales.
In a statement, Crown Affair founder and chief executive Dianna Cohen called the new funding round an âinflection pointâ for the brand. True Beauty Ventures co-founder Rich Gersten stated the investment will âcontinue to support their upward trajectory.â
The round is True Beauty Venturesâ latest bet on the hair care space after its successful investment in the premium clinical line K18, which was acquired by Unilever in 2023. The firmâs portfolio also includes cosmetics makers Caliray and Ami Colé, and skincare brands Vacation, Dieux Skin and Sofie Pavitt Face.
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