LONDON — SKKY Companions, the personal 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 will likely be directed towards strengthening 111Skin’s direct-to-consumer enterprise, and rising its presence in North America and Asia, the place it has skilled development.
Final yr, 111Skin tapped Vanessa Goddevrind as chief government officer, taking up from the model’s cofounder Eva Alexandridis, who’s now chief artistic officer. She oversees the enterprise along with her husband, Dr. Yannis Alexandridis.
“SKKY Companions reached out to us over a yr and a half in the past, however we weren’t able to course of then. Nonetheless, they impressed us with their capabilities and the group,” Alexandridis mentioned in an interview with Goddevrind.
Merchandise from 111Skin.
“They’ve a really sturdy observe document of partnering with manufacturers and we have been actually on the lookout for strategic companions as a part of this course of. The SKKY Companions group 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 will likely be used to drive stronger digital advertising and marketing, 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 sturdy as in-store and in different channels [such as hotels or spas],” Goddevrind mentioned.
David Brisske, managing director at SKKY Companions, mentioned the 111Skin group 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 robust basis and important ongoing potential, and we’re honored to accomplice with the founders and management for the following section of development.”
Tapping into the North American market is the model’s number-one precedence, above Asia, Alexandridis mentioned. “We’re very targeted and we began there a few years in the past, however now we’re seeing large alternative for the model and are working with prime retailers resembling Bluemercury and Nordstrom,” she added.
In working with SKKY Companions, 111Skin will be capable to undertake much more market analysis.
Goddevrind needs to scale the enterprise sustainability with the “proper stability of deal with development, 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 corporations with a multimillion pound funding.
The model took place after Yannis, a former trauma surgeon, sought a post-operative therapy that might encourage the pores and skin’s potential to restore itself. He was seeking to optimize his sufferers’ therapeutic following surgical or nonsurgical therapies at his beauty surgical procedure clinic at 111 Harley Avenue in London.
His first product was the Therapeutic Serum, which comprises 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 world distribution community that features Bergdorf Goodman, Neiman Marcus, Harvey Nichols, Selfridges, Violet Gray, Joyce and Mecca. It additionally sells by means of on-line retailers Web-a-porter and Cult Magnificence.
As reported, the corporate has mentioned all new merchandise are impressed by the physician’s every day medical follow.
The model has change into a market chief in luxurious sheet masks, promoting greater than 18 million Rose Gold Brightening Facial Therapy Masks since its launch in 2018.