)
Ultra Violette, an Australian brand at the forefront of premium SPF-based skincare, has secured a $15 million investment from US-based consumer growth equity firm Aria Growth Partners to drive the company’s retail debut into North America.
The company, established by Ava Chandler-Matthews and Rebecca Jefferd in 2019, has bootstrapped its growth until now, but the company’s founder say they still retain majority control of the business following their first ever capital injection.
Aria Growth Partners, which also has investments in skincare groups Hero Cosmetics and The INKEY List, is poised to help Ultra Violette launch into Canada in March as well as support the company’s product development and team development efforts.
Ultra Violette produces a range of SPF-based skincare products under the SKINSCREENS brand, with sales driven by a cult following through formulations that are described as ‘light, nourishing and hastening large-scale adoption of daily SPF use’.
The company says it has managed to achieve 100 per cent year-on-year growth since launching in 2019.
“This investment marks a significant milestone for our business, one we are confident will be remembered as the starting point of something greater than we could have imagined,” says Jefferd.
“Aria has shown huge passion and support for our brand from day one, and we are thrilled to work with them.
“Through our expansion so far, we’ve been overwhelmed by the response to our product formulations, but we’ve only just scratched the surface.”
Ultra Violette plans to introduce its SKINSCREEN range to North America through Sephora Canada. The range is already stocked by retailers in more than 28 markets globally including the key regions of Europe, the UK, Asia and the Middle East. Among the retailers stocking its products are Sephora, SpaceNK, Harrods and Liberty London.
“We started Ultra Violette to make sunscreen application easy and fun with the hope that more people would start to wear it every day,” says Chandler-Matthews.
“As we’ve expanded globally, we have seen a real shift in attitudes towards daily SPF application – people are happy to wear it every day if they enjoy the experience.
“Our SKINSCREENS have gone from being ranged seasonally to a year-round, daily skincare staple, proving the Australian proposition translates to other markets and consumers.”
Ultra Violette says its products are formulated and tested in Australia ‘under the harshest UV conditions on the planet’ and aided by Australia’s reputation as a global leader in sunscreen innovation.
“We are thrilled to partner with Bec and Ava for Ultra Violette’s next phase of growth,” says Jackie Dunklau, co-founder and partner at Aria Growth Partners.
“Bec and Ava are impressive entrepreneurs that have created a beautiful brand, with truly amazing, high-performance products.
“As consumers change their SPF habits from occasion-based to daily usage, Ultra Violette is perfectly positioned to lead the charge.”
The New York City-based Aria Growth Partners typically takes a minority stake in the companies it chooses to invest in with its primary focus on the personal care, beauty, food, beverage, baby products and lifestyle sectors.
The equity investment group reveals that it targets companies with turnover from US$10 million to US$50 million and makes an average investment of between US$10 million and US$30 million.
Get our daily business news
Sign up to our free email news updates.
)
)
)
)
)
