In order to give a much needed impetus to fashion and beauty start-ups, former Lancome CEO Odile Roujol is launching a US $ 10 million fund.
Reportedly, the plan for the fund has been in the works for the past 4 years ever since Odile moved to the US, and it also led to the establishment of her new business FAB Ventures.
Odile has had a rich and diverse background in the fashion world as she was also part of Chanel, Yves Saint Laurent and L’Oreal apart from having served as the CEO of Lancome over the course of her career.
She has also been involved in angel investing, which inspired her to take the role forward in US with FAB Ventures.
The fund will focus on direct-to-consumer fashion and beauty brands. Additionally, FAB Ventures also closed a US $ 10 million round of funding to help increase investment towards sustainable luxury fashion, clean beauty and wellness products as well as Femtech.
On average, the company invests US $ 250,000 and so far has a portfolio consisting of the likes of shoe brand Thousand Fell, reproductive health company Stix and Dr. Elsa Jungman’s clean beauty line, among others.