The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Famille C Venture, the private investment fund of the family behind the French prestige skin care brand, led a £6.4 million ($8.8 million) Series B investment in Pai Skincare, a London-based beauty label known for its clean, animal testing-free and vegan products. Interest in clean skin care has jumped in recent years as shoppers turn their attention to ingredient lists and formulas.
Pai was founded in 2006 by Sarah Brown. The company will use the funding to expand its development and manufacturing in London where all the brand’s products are produced, develop new products and expand its e-commerce business. Pai is available at retailers including Credo Beauty and Bloomingdales in the US, John Lewis in the UK and Sephora in France, among other regions.
Shining light on the $12.3 billion SPF boom.
News of a potential exit has the beauty industry in shock and awe of the Selena Gomez-founded label, and wondering what its next move should be.
L'Oréal reported a 9.4 percent rise in first quarter sales on a like-for-like basis on Thursday, beating expectations and easing concerns about a slowdown in the two biggest beauty markets; the United States and China.
The founder, who was ousted and recently came back to the line as CEO, will regain control of the company.