Salt & Stone Secures Minority Investment From Humble Growth

Los Angeles-based bodycare brand Salt & Stone has secured a minority investment from Humble Growth, with the specific terms of the deal remaining undisclosed.

Established in 2017 by former professional snowboarder Nima Jalali, Salt & Stone emerged from Jalali’s shift towards a healthier lifestyle following a knee injury. His interest in non-toxic body products and distinctive fragrances resulted in a collection of natural deodorants, body mists, body washes, and lotions, infused with scents such as Santal & Vetiver, Neroli & Basil, Black Rose & Oud, and Bergamot & Hinoki.

“Salt & Stone operates within two of the fastest-growing categories within the beauty industry, and that’s really between body care and fragrance,” co-founder Andrew Abraham explained to WWD. “The products are extremely well thought-through. They smell incredible. They look and feel extremely luxurious, and they work.”

With the new funds, Salt & Stone plans to enhance its global presence, particularly through an expanded partnership with Sephora, and boost sales through Amazon and direct-to-consumer channels. A new product category is also on the horizon for next year, underpinning an aggressive growth strategy. “We’re in a really exciting time for the brand, the growth has been really explosive, and now is the best time to ensure that we have all the tools that we need to build a brand that will be around for another 100 years,” Jalali told WWD.

Humble Growth, led by founders including Andrew Abraham of Orgain, Peter Rahal of RXBAR, and Nick Giannuzzi of Giannuzzi Lewendon, is a New York-based investment firm specialising in minority-stake investments in disruptive companies across the food, beverage, beauty, health, and wellness sectors.

Jalali’s choice to partner with Humble Growth stemmed from the firm’s founder-led approach. As he told WWD, “I found it really important to work with a fund that is founder-led. Having Andrew being able to understand and look at things from a founder’s perspective is super, super important. I felt just really strong alignment there, and that was the reason we chose them.”

Salt & Stone is one of several beauty brands to have secured investment this year. Winky Lux landed a majority investment from private equity firm CORE Industrial Partners; Summer Fridays secured a strategic growth investment from TSG Consumer Partners; Allies of Skin raised a $20 million investment from Meaningful Partners; and Luna Daily obtained investment from Unilever Ventures.