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29 LUXURY GOODS RAISES $1.4M VENTURE CAPITAL |
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On August 7, 2009, 29 Luxury Goods, Inc. closed on $1.4M in venture capital financing led by Williams Venture Partners, LLC. The 29 brand includes internationally distributed cosmetics and skin care products, the 29 Spa franchise and a custom product wholesale division. The company differentiates itself with the anti-aging properties of grape seed extract from the vineyards in Napa Valley. Williams Venture Partners, a venture capital firm based out of Atlanta, is focused primarily on growth capital for innovative operating companies. According to John (“Jay”) A. Williams, Jr., the firm’s Managing Partner, “29 represents the proof of concept and market penetration that Williams Venture Partners seeks in investment opportunities.” Williams referenced the economic climate as a unique opportunity for sound early stage companies to establish a significant presence. 29 has experienced rapid growth since launching in 2007 and does not appear to be slowing down. According to Lydia Mondavi, CEO of 29, post closing plans include executing on existing opportunities to significantly expand distribution domestically and internationally. Addressing the impact of the economy, Mondavi affirmed “the investment allows [29] to maximize brand presence and implement strategies to capture greater market share.” 29 Luxury Goods, Inc. http://www.29cosmetics.com 29 Luxury Goods operates in the luxury fashion, beauty and spa resort market through two channels: luxury products and luxury spas. The principal product segment, 29 Cosmetics, is a grape seed extract based product line of skin care, body care, hair care and full color cosmetics and accessories. The skincare products are formulated as eco-friendly, organic, all natural, paraben free, sustainable and supportive of fair trade. 29 Luxury Goods also designs and manages the 29 Spa franchise, enhancing the brand with a complete luxury spa resort and beauty experience. Williams Venture Partners, LLC. http://www.williamsventurepartners.com Williams Venture Partners is an opportunistic venture capital firm, providing growth capital to innovative operating businesses. The firm’s objective is to build upon a portfolio of quality venture investments with a select group of long-term investment partners. The firm emphasizes strong fundamentals and healthy returns that meet the goals of investment partners. |
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