LONDON — Vaultier7 has added to its roster of fast-growing, entrepreneur-led companies with a multimillion-pound investment in the doctor-led skin care brand 111Skin, WWD has learned.
The high-end skin care brand, founded by the London-based plastic surgeon, Dr. Yannis Alexandrides, will join beauty and consumer brands that include Gisou, Axel Arigato, Vestiaire Collective at Vaultier7, which is run by Montse Suarez and Anna Sweeting.
“This is the perfect time to partner with an ambitious, like-minded investor that can cement 111Skin’s position as leaders in luxury innovation. We are thrilled to announce a new partnership with Vaultier7,” said the skin care brand, whose Rose Gold Brightening Facial Treatment Mask has been a top seller.
There are plans for expansion this year, including the launch of supplements, ampoules and liquid masks.
111Skin’s chief executive officer Eva Alexandridis said V7 “shares our passion for inclusive beauty and sustainable growth strategies, aligning with our vision of global expansion and pushing our category offerings to match consumer demand.”
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“We are so excited to embark on the next chapter of 111Skin’s journey with them, which will include an aesthetic center of excellence, sustainability and philanthropic initiatives and international expansion.”
Alexandrides said the investment will enable 111Skin “to move into the next phase of its trajectory with ease. I strongly believe that 111Skin will be in a position to continue to lead in the fields of skin care and innovation, and I will be more than ever involved in the latter.”
Vaultier7 said the brand’s “mind-blowing results and innovative masking formats have allowed Eva and Dr. Yannis to build their brand organically, endorsed by opinion leaders across the globe. We are deeply excited to partner with them in their significant global expansion plans and in sharing the brands values with even more customers worldwide.”
Having begun with a single shelf in Harrods in 2012, the brand has a global distribution network that includes Bergdorf Goodman, Neiman Marcus, Harvey Nichols, Selfridges, Violet Grey, Joyce and Mecca. It also sells through online retailers Net-a-porter and Cult Beauty.
111Skin said it successfully pivoted its wholesale model last year and is now a 43 percent digital business. It saw a 50 percent increase on 2019 sales and a quadrupling of its earnings before interest, taxes and amortization forecast for the year, part of an overall surge in skin care sales during lockdown.
The brand came about after Alexandrides, a former trauma surgeon, sought a post-operative treatment that could encourage the skin’s ability to repair itself. He was looking to optimize his patients’ healing following surgical or nonsurgical treatments at his cosmetic surgery clinic at 111 Harley Street in London.
His first product was the Healing Serum, which contains a proprietary complex he developed, and a brand was born. The company said all new products are inspired by Alexandrides’ daily clinical practice, and there are now seven ranges aimed at cultivating skin health.
The brand has become a market leader in luxury sheet masks, selling more than 18 million Rose Gold Brightening Facial Treatment Masks since its launch in 2018.
As reported earlier this month, searches for “rose gold face masks” are on the rise — growing by 42.2 percent since last year — with the trend expected to continue. 111Skin has been appearing in top searches for “rose gold face masks,” according to Spate.
Alexandrides said the Rose Gold Face Mask is the brand’s bestselling mask in the U.S., and the buzz started on Instagram.
“Initially, it was organic — people were willing to take photos and share the results [on social media],” Alexandrides said. He counted posts from Rosie Huntington-Whiteley, Margot Robbie and Priyanka Chopra Jonas as instrumental to driving the mask’s success.
Vaultier7 is a specialist investment fund based in London that aims to invest in challenger brands and also puts its money behind newcomer companies that have a distinctive attitude and digitally shrewd strategies underpinned with compelling product offer.
It looks at companies with revenues of between 3 million pounds and 15 million pounds, and aims to provide growth capital between 2 million pounds and 10 million pounds.