The skincare brand announced Monday that it has received a “multi-million” infusion of funds from the beauty-and-lifestyle focused investment firm. The exact value of the transaction was not disclosed.
Skincare has performed strongly during the pandemic, despite wider retail disruptions. 111Skin said it expects 2020 sales to come in 50 percent higher than in 2019.
The luxury skincare brand was founded in 2008 by Harley Street plastic surgeon Yannis Alexandrides, and this is the first time it is seeking external investment. It has gained popularity for its sheet masks and marketing focused on the clinical background of its founder.
The company said it plans to continue to develop clinically-inspired categories this year, with the launch of supplements, ampoules and liquid masks. Its partnership with V7 brings on board experienced investors. The firm has previously invested in companies including resale site Vestiaire Collective and Axel Arigato.