Universal Beauty Group, a Saint-Rèmy-De-Provence, France–based provider of natural beauty products, secured €1.5m in funding.
Independent private equity firm Audacia made the investment.
The funds will be used to help invest in production, marketing and expand operations both in France (planning to open a concept store in Paris in 2018) and internationally.
Launched in 2013 by Jean-Marc Delabre and Vincent Faraco, Universal Beauty Group trades under the Végétalement Provence brand offering natural haircare and beauty products for hair-dressing salons and beauty professionals.
The company, which sells to around 800 points of sale including over 350 high-level salons principally in France, opened a US subsidiary in 2016 to service in particular the Florida and West Coast markets. It currently sells to Western Europe, Switzerland and Russia and is looking to develop in Asia and the Middle-East. Universal Beauty Group has recently opened an office in Hong Kong with view to entering the Chinese market in the coming years.
Sales under the Végétalement Provence brand are expected to reach €5m in 2017.
FinSMEs
10/07/2017