Huda Kattan started her beauty business with a $6,000 loan, building a cosmetics brand that would eventually attract tens of millions of followers online. In 2017, the company brought in investment firm TSG Consumer Partners, which acquired a minority stake as Huda Beauty continued to expand. As reported in June 2025, the change followed a restructuring involving Kayali, the fragrance brand co-founded by her sister Mona Kattan.
Eight years later, that partnership ended, with Kattan regaining full ownership of the business. The move puts Huda Beauty back under founder ownership, giving the company a different financial and operational footing as it concentrates on cosmetics.
Huda Beauty was founded in 2013, following Kattan’s work as a makeup artist and beauty blogger. Huda Beauty entered into a partnership with TSG Consumer Partners in 2017. The arrangement ended in 2025, when the company confirmed that it had reached an agreement to bring TSG’s involvement to a close. Huda Beauty’s return to full founder ownership marks a change from the investment arrangement established in 2017.
Initially, the brand became known for its false eyelashes. By giving beauty advice and product recommendations online, she created her audience and gradually turned her interest into a business. Kattan’s online presence played a significant part in the company’s growth. Her tutorials and product content helped introduce Huda Beauty to customers, while the brand developed a presence beyond social media through retail and e-commerce. The investment firm acquired a minority interest in the company, giving it a stake in the business while Kattan remained closely involved in its direction and public identity. The partnership continued for eight years. During that period, Huda Beauty expanded its product offering and maintained a substantial following in a competitive beauty market. Kattan remained a central figure in the business, working alongside her husband, Christopher Goncalo, who serves as co-CEO. The financial terms of the buyback were not disclosed in the Forbes Middle East report, and the amount paid for the investor’s stake was not specified. Outside investors can provide resources and support for expansion, but they also acquire an ownership interest in the businesses they back. Buying out TSG has brought that shared ownership arrangement to an end.