Former Coty CEO Camillo Pane has bagged US$20m for his new beauty incubator brand Present Life.
Backed by venture capital firm The Craftory, so far the company has incubated two beauty brands in-house, while acquiring marine biotech skin care brand One Ocean Beauty.
First to launch from its internal portfolio was wellness brand Healist Advanced Naturals in April, which focuses on stress reduction, better sleep and reducing muscle pain.
Also set to roll out this summer is Loum Beauty of Calm, a new ‘clean’ beauty brand developed with dermatologist Daphne Oz.
Pane has committed to only adding plant-based, eco-friendly and effective products to Present Life’s roster, with a focus on diversity for different price points and retail settings.
“When you’re building brands in the wellbeing and beauty space, they have to be effective and must deliver on their promises,” said Pane.
“Natural brands often come with a tradeoff on performance, whilst the most efficacious products aren’t always the kindest.
“This is a compromise consumers no longer need to accept.”
Pane has also put faith in his diverse team, who he claims possess the skills to ensure its start-up brands are able to scale effectively.
“In most categories nowadays, there is a proliferation of start-up brands that, while disruptive in product and business model, often struggle to scale effectively,” he noted.
“The hybrid skills of our team sets up apart from large corporates and smaller start-ups, allowing us to first create with agility and speed, and then scale rapidly and profitably.”
The Italian native left personal care giant Coty in 2019 after two years at the helm and has been working as an advisor and investor since his departure.
