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Veralab and Peninsula Capital enter into a strategic partnership

Jan 8, 2024

Veralab, a leading Italian brand within the beauty sector, and Peninsula Capital, a leading European private equity operator, have signed an agreement aimed at strengthening Veralab's leadership in Italy and launching an international expansion plan

Reforme Srl (“Reforme”), owner of the "Veralab" brand, is pleased to announce the entry of Peninsula Capital ("Peninsula"), an international private equity fund, into its share capital with a 30 percent stake.

The strategic partnership to be formed by Cristina Fogazzi, the founder of Veralab, Mauro Marcolin, minority shareholder and CEO, and Peninsula, aims to solidify the development plan of the beauty brand, propelling it toward new domestic and international growth prospects by leveraging on Veralab's current leadership position in the skincare sector (as the second-largest Italian online player) and Peninsula's strong international focus and experience in the consumer world.  

Established in 2016 with the goal of revolutionising the narrative surrounding women's beauty, redefining its norms and anticipating the entire industry on embracing the concept of body positivity, Veralab is today a prominent player in the cosmetics industry, benefiting from exponential growth based on a digital-born business model that swiftly developed into an integrated omni-channel model.

Since 2019, the online channel has been gradually complemented by physical distribution through the opening of monobrand stores in Milan and Rome, entry into La Rinascente, Pinalli, Naima, and other notable Italian perfumeries, as well as entry into the Pharmacy channel.

As a result of such strategy, VeraLab has won the prestigious Pambianco Award Le Quotabili in the years 2020, 2021 and 2022, recognising it as one of the best Italian companies eligible for listing on the stock exchange.

Veralab expects to close fiscal year 2023 with consolidated revenues exceeding 70 million euro, a 20% increase from 2022, confirming the high historical growth rates (+36% CAGR2019-23 from the pre-Covid period) and reaffirming the brand’s development potential.


“This partnership is of great satisfaction for me as it highlights the value of our efforts thus far. Moreover, it represents a crucial step that will enable us to engage with confidence in the expansion of the brand on an international level. I am convinced that Peninsula represents the ideal partner given its presence in strategic markets for Veralab and its consolidated extensive experience in the Consumer Retail sector particularly in the Beauty industry”, stated Cristina Fogazzi, founder of Veralab.

Mauro Marcolin, CEO and shareholder of Veralab, added “We are delighted to welcome Peninsula into Reforme's share capital. I believe that their financial and managerial support, combined with their network, will enable a strong acceleration in the global development of the brand, that is already well established in the Italian market”.

Peninsula commented “We are honored by the trust that Cristina and Mauro have shown by embarking with us in this new phase of Veralab’s development. The strength of the company in Italy, being one of the most competitive beauty markets in the world, along with the inclusive message that characterizes the brand, combined with Cristina's energy and entrepreneurial vision, constitute a unique and exceptional fundation to make Veralab one of the leaders in the European Beauty sector”.


Peninsula was assisted by Vitale & Co as M&A advisor, Bain & Co for the commercial due diligence, Alvarez & Marsal for the financial due diligence, Deloitte Legal for the legal and tax due diligence and the contract documentation.


Veralab was assisted as financial advisor by Rothschild & Co, for the legal and contractual assistance by Osborne Clarke Law Firm, and for the Vendor Due Diligence Financial & Commercial by EY Advisory S.p.A.

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