Introducing the Vogue Business Funding Tracker, a running list highlighting the most notable and intriguing investment and M&A activity in fashion and beauty. From emerging disruptors to legacy giants undergoing major changes, we spotlight the deals that are shifting the dynamics of the sectors we cover, including fashion, beauty, tech and sustainability.
May 2026
Vetir
Company description: NYC-based startup Vetir is pitching itself as an AI luxury shopping app that goes beyond discovery and transactions to act as “a system of record for the wardrobe” for high-value consumers. In practice, this is something of an AI stylist that learns from the data users share with the app, including existing closet items, shopping preferences, as well as their calendar, travel, and purchasing behavior. It’s also building out a business-to-business, CRM-type system for private stylists and luxury clienteling systems, aiming to bring “structure and continuity to what has traditionally been a fragmented, relationship-driven space”.
Funding and round: $5.5 million, Series A.
Investor(s): A consortium of investors across technology and luxury-adjacent family offices.
April 2026
Ruka Hair
Company description: Ruka Hair was founded in 2021 by Tendai Moyo and Ugo Agbai, with the mission of supplying hair extensions that are safe, ethical, and good quality. The brand has now received $4.5 million in funding led by Henkel Ventures, the owner of Olaplex and Schwarzkopf. Ruka will be using the investment to scale its business, starting with the launch of US-based operations later this year. The brand has raised $10 million to date and is stocked at Selfridges.
Funding and round: $4.5 million.
Investor(s): Henkel Ventures, Freedom Trail Capital, Big Issue Invest, Backed VC, Dina Asher-Smith, Knut Alicke, Sophia Dennis, Didier Morais.
Investor comments: “Ruka Hair exemplifies what we look for: founders solving a real problem with genuine commitment, building through community rather than hype,” said Samyr Laine, co-founder and managing partner of Freedom Trail Capital. “Tendai and Ugo built this brand during one of the most challenging periods for consumer businesses, scaled through an authentic community, and are now pioneering biotech innovation that could reshape an entire category.”
Anomaly
Company description: Since founding Anomaly in 2021, Priyanka Chopra Jonas has scaled her haircare brand across North America, the UK, and the Middle East. In the US, the brand is stocked at Target, while in the UK, Superdrug is one of its biggest retailers. Chopra Jonas launched Anomaly with the aim to bring accessibly priced clean and vegan haircare products to the masses. The investment from Reliance will focus on scaling the brand further in India, alongside growing its international presence.
Funding and round: Acquisition, terms undisclosed.
Investor(s): Reliance Retail (portfolio includes: Pahadi Local and Tira).
Investor comments: “Bringing Anomaly into our portfolio marks a strategic step in expanding our basket of new-age, high-growth beauty brands. Anomaly’s strong global positioning, clean formulation, and accessible pricing make it a compelling addition to our ecosystem,” said Isha Ambani, executive director of Reliance Retail Ventures Limited.
111Skin
Company description: Luxury skincare brand 111Skin was co-founded by husband and wife duo, Dr. Yannis and Eva Alexandridis, in 2012. Their face masks have gone viral since, and in 2025, the brand received a minority investment from Kim Kardashian and Jay Sammons’s private equity firm Skky Partners to help fund its US expansion. Now, the Estée Lauder Companies (ELC) has invested a minority stake that will go toward science-driven innovation.
Funding and round: Minority investment, terms undisclosed.
Investor(s): The Estée Lauder Companies (portfolio includes: Le Labo, Jo Malone London, Clinique, La Mer).
Investor comments: “Skincare is entering a new phase, shaped by the convergence of procedures, longevity, and beauty, as consumers increasingly seek products that deliver visible, treatment-inspired results,” said ELC president and CEO Stéphane de La Faverie. “111Skin exemplifies this shift, translating Dr. Alexandrides’s more than 35 years of surgical and aesthetic treatment experience into high-performance skincare inspired by in-clinic treatments and built on clinical insight, next-generation actives, powerful formulas, and proven efficacy.”
