Ben & Frank Announces Additional Investment From L Catterton
MEXICO CITY and GREENWICH, Conn., April 25, 2023 /PRNewswire/ — Ben & Frank, the leading direct-to-consumer (“DTC”) omnichannel eyewear brand in Mexico with a presence in Chile, today announced that it has received an additional investment from the Latin America Fund of L Catterton, a market-leading consumer-focused investment firm. This investment builds on an already successful partnership, helping to fuel Ben & Frank’s continued growth and expansion across Latin America.
Founded in 2015, Ben & Frank is disrupting the traditional optical industry in the region by offering fashionable and high-quality prescription glasses and sunglasses at accessible prices. Through its DTC model, the Company eliminates intermediaries and removes the tradeoff between design and affordability. Since L Catterton’s initial investment in 2021, Ben & Frank has demonstrated strong growth and profitability, almost tripling its store footprint whilst building on its best-in-class e-commerce platform and superior customer experience.
“This additional investment from L Catterton provides significant growth capital that will allow us to continue advancing our goal of disrupting the industry through our seamless omnichannel experience and customer-centric strategy,” said Mariana Castillo, Co-CEO of Ben & Frank.
“This investment will support our efforts to keep increasing our store footprint at an accelerated pace for both of our brands, Ben & Frank and Bombavista, driving further awareness and establishing us as the leading eyewear brand in Latin America,” said Eduardo Paulsen, Co-CEO of Ben & Frank.
Julio Babecki, a Partner in the Latin America Fund of L Catterton, said, “Ben & Frank has an incredibly strong brand identity and passionate customer base. We are proud of the tremendous growth and profitability that they have demonstrated since our initial investment in 2021.”
Farah Khan, a Managing Partner in the Latin America Fund of L Catterton, added, “We are delighted to continue supporting the whole Ben & Frank team along its journey to transform the consumer eyewear industry, and we see massive growth potential and opportunities for innovation ahead.”
L Catterton has significant experience investing globally in consumer retail brands, including in the optical space. Current and past investments include FYidoctors, Owndays, and Gentle Monster. Other L Catterton Latin America investments include NotCo, Petlove, Despegar.com, OdontoCompany, CantuStore, Cholula, Espaçolaser, FEMME, Grupo MYT, St. Marche, Luigi Bosca, Susana Balbo Wines, Rapsodia, and Bodytech.
About Ben & Frank
Founded in 2015 in Mexico City, Ben & Frank is the leading DTC eyewear brand in Mexico and an emerging leader in Latin America. Ben & Frank’s goal is to disrupt the traditional eyewear buying experience through a customer-centric approach and eliminating intermediaries to offer attractive pricing. With brick-and-mortar retail locations in Mexico and Chile, as well as a seamless digital platform, Ben & Frank is rapidly expanding throughout Latin America. For more information about Ben & Frank, please visit www.benandfrank.com.
About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.
Ben & Frank
Managing Director, Firm Communications
SOURCE Ben & Frank
Originally published at https://www.prnewswire.com/news-releases/ben–frank-announces-additional-investment-from-l-catterton-301807097.html
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