As we near the end of the year, investment in niche beauty brands is ramping up.
This has seen businesses invest more specifically into beauty care needs such as men’s hair health, as well as hair regrowth brands.
Other acquisitions this week are also adding further fuel to India’s burgeoning beauty market in 2023.
Read below to find out more.
SonsIrish men’s hair care brand Sons has closed a €6.75m funding round.
The brand will use the investment to further expand its business in the UK and Ireland, as well as scale operations in Germany following its pharma licence approval in the country.
The funding round was led by The Davy EIIS Fund and a consortium of private investors, and was supported by business solutions firm Wayflyer.
"The men’s health and personal care market has a long way to go in terms of being socially accepted and normalised, and the journey is just starting for us,” said Will Kennedy, co-founder and CEO of Sons.
“We are committed to challenging norms and encouraging men to prioritise their health."
The subscription-based company said it regularly reports monthly revenue of over €1m, with a 5% market share in the UK and Irish markets.
It has been expanding its presence through retail partnerships and distribution channels this year, including a recent listing with budget beauty retailer Superdrug.
“We have been hugely impressed by Will, Adrian [Gilbane, Sons co-founder] and the wider team and the success achieved to date,” added Sinead Heaney, Director BES Management DAC, the Manager of the Davy EIIS Fund and Partner at BDO Ireland.
“We look forward to assisting them to further grow and internationalise the business.”
Consumer goods business BIA Brands has acquired skin care startup TrueKind.
The acquisition marks the Indian brand owner's first skin care entry and furthers its goals of establishing a proper personal care division.
“The acquisition of TrueKind is a key step in BIA Brands’ journey towards diversifying our offerings and venturing into the beauty and personal care space,” said founder Sudhakar Adapa in a statement to APN News.
“We are setting the stage to build and foster truly global brands that originate from India, transcending geographical boundaries and consumer expectations.”
TrueKind was founded by Keshav Biyani and Prabhu Karthikeyan in October 2021.
The Indian skin care brand’s portfolio includes a range of moisturisers, cleaners, toners, facial oils and sleep masks.
BIA Brands was founded by Adapa in June 2022.
It’s a 10 UK
It's a 10 has acquired Canadian hair growth specialist Nisim.
It marks the US hair care business’ first brand acquisition, which plans to transform and rebrand the company as Arise Haircare over the next nine months.
This will include an overhaul of the brand’s packaging and imagery, as well the creation of a new targeted collection of products tailored to treating all hair types.
"In acquiring Nisim, we recognised the power of its proprietary blend, a fusion of herbs and amino acids that is truly unique," said Carolyn Aronson, It's a 10 UK’s owner, founder and CEO.
"The rebrand to Arise Haircare is a testament to our dedication to providing effective and transformative hair care solutions to a Global audience."
Aronson added that it plans to bring the business into a “more modern era” by creating a “massive” TikTok campaign centred around its upcoming F.A.S.T collection.
Nisim launched its debut product line in 1993, and now distributes its line-up to over 40 countries globally.
Aronson founded It's a 10 in 2005 alongside Scott Scharg.