Skinfix has secured a minority investment from private-equity firm Stride Consumer Partners.
Nova Scotia, Canada-based Skinfix was founded by Amy Gordinier in 2014 as a line meant to heal and maintain the skin barrier. The company started with products specifically formulated around eczema, and has since expanded to different types of products for face and body.
Skinfix’s key products include the Barrier+ Triple Lipid-Peptide line, as well as Resurface+ line, which includes chemical exfoliation products.
“We’ve been talking skin barrier health since the beginning … nobody really understood what skin barrier health was,” Gordinier said. “Derms have really started to educate consumers about skin, the skin barrier and skin barrier health. Now, they truly get it.”
Terms of the investment were not disclosed, but industry sources estimate Skinfix is approaching $25 million in net sales. The company said in a statement that its growth rate is 300 percent.
With the investment, Skinfix aims to amplify brand awareness as it looks to grow its direct-to-consumer business, as well as sales with Sephora, its exclusive retail partner. Skinfix is primarily sold in the U.S. and Canada, but is entering Australia with Sephora next month.
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“We’re still a very small team and we want to build the team — we are recruiting for a CEO,” Gordinier said. “I’m personally extremely excited to find a business partner. I don’t have a co-founder, it’s just me, so to have a business partner who I can work alongside with so I can spend most of my time in innovation and clinicals and playing the role of brand founder and brand ambassador.”
Skinfix will look to build the rest of the team as well as invest in product innovation, clinical studies and brand awareness, she said. In January, Skinfix will launch into another new treatment area, Gordinier said.
This is the company’s first time raising institutional capital, Gordinier said, though the company had raised some capital from family offices before. For Stride, the firm formed by former Castanea investors, this is their first investment.
“We actually had Skinfix on top of our list of brands to watch,” said Nicole Fourgoux, Stride operating partner. “We were watching the evolution of the skin care market and we saw with younger consumers being much more educated around skin care the market really evolved toward a desire for brands that were not only clean or not only clinical, but truly both.”
Steve Berg, Stride partner, said the firm liked Skinfix because of the consumer passion around the brand. “We are here to help founders who are on a mission grow their passion brands without losing any of that magic that they really began with,” he said. “We love Amy’s vision for the brand and the company and are enthusiastic supporters of that vision. We’re hoping to help her accelerate the path.”
Fourgoux and Berg will join the Skinfix board. Piper Sandler advised Skinfix on the transaction.
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