LONDON — SKKY Companions, the non-public fairness agency based by Kim Kardashian and Jay Sammons, has taken a minority funding within the skincare model 111Skin.
Each events declined to share monetary particulars, however added that the funding might be directed towards strengthening 111Skin’s direct-to-consumer enterprise, and rising its presence in North America and Asia, the place it has skilled progress.
Final 12 months, 111Skin tapped Vanessa Goddevrind as chief govt officer, taking up from the model’s cofounder Eva Alexandridis, who’s now chief artistic officer. She oversees the enterprise together with her husband, Dr. Yannis Alexandridis.
“SKKY Companions reached out to us over a 12 months and a half in the past, however we weren’t able to course of then. Nonetheless, they impressed us with their capabilities and the workforce,” Alexandridis mentioned in an interview with Goddevrind.
Merchandise from 111Skin.
“They’ve a really robust observe report of partnering with manufacturers and we had been actually on the lookout for strategic companions as a part of this course of. The SKKY Companions workforce has large expertise working with distinctive, growth-oriented manufacturers. They’re passionate champions of our core values and share our drive for excellence,” Goddevrind added.
The funding from SKKY Companions might be used to drive stronger digital advertising, revamp the web site and construct a stronger social media presence.
“We’re strengthening our buyer relationship administration, ensuring that each touchpoint that now we have with customers on-line is as robust as in-store and in different channels [such as hotels or spas],” Goddevrind mentioned.
David Brisske, managing director at SKKY Companions, mentioned the 111Skin workforce has created and nurtured a “coveted model with world-class merchandise and a loyal buyer base, which inserts completely with SKKY’s technique. 111Skin has a powerful basis and important ongoing potential, and we’re honored to companion with the founders and management for the subsequent section of progress.”
Tapping into the North American market is the model’s number-one precedence, above Asia, Alexandridis mentioned. “We’re very centered and we began there a few years in the past, however now we’re seeing large alternative for the model and are working with high retailers similar to Bluemercury and Nordstrom,” she added.
In working with SKKY Companions, 111Skin will have the ability to undertake much more market analysis.
Goddevrind needs to scale the enterprise sustainability with the “proper stability of give attention to progress, but in addition ensuring that we make long-term strategic choices.”
111Skin’s Black Diamond Emulsion.
The corporate has been rising steadily and has attracted a fan base that features Bella Hadid, Victoria Beckham, Priyanka Chopra and Rosie Huntington-Whiteley.
In 2021, Vaultier7 added the model to its roster of fast-growing, entrepreneur-led firms with a multimillion pound funding.
The model took place after Yannis, a former trauma surgeon, sought a post-operative remedy that might encourage the pores and skin’s means to restore itself. He was trying to optimize his sufferers’ therapeutic following surgical or nonsurgical therapies at his beauty surgical procedure clinic at 111 Harley Road in London.
His first product was the Therapeutic Serum, which accommodates a proprietary advanced he developed, and a model was born.
Having begun with a single shelf in Harrods in 2012, the model now has a worldwide distribution community that features Bergdorf Goodman, Neiman Marcus, Harvey Nichols, Selfridges, Violet Gray, Joyce and Mecca. It additionally sells via on-line retailers Web-a-porter and Cult Magnificence.
As reported, the corporate has mentioned all new merchandise are impressed by the physician’s each day medical observe.
The model has develop into a market chief in luxurious sheet masks, promoting greater than 18 million Rose Gold Brightening Facial Remedy Masks since its launch in 2018.
