Beauty box service secures major investment to boost expansion plans
LatestinBeauty Group has secured an investment of £500,000 following a record year of profits. The investment follows the acquisition of blogger website shesaidbeauty.com last year.
Founded in 2010, LastestinBeauty creates bespoke beauty boxes for customers using products from a portfolio of more than 300 brands. It is said to have a database of more than 11 million customers.
The £500,000 investment is scheduled to help create the Libbie Club – a new initiative that will see the brand move into direct selling. Members of the public will be recruited to create an online sales force.
Nort Janseen, Founder at LatestinBeauty Group, explained: “LiB Group has worked through 2015 to build the right set of tools and perfect the model of the club and we are now ready to build the biggest social sales force for the beauty industry in the UK. We are aiming to have 2,000 ‘Libbies’ working on behalf of beauty brands, advocating their products to their social circles, turning them into loyal customers. We are planning to grow between 50-60% in the next year.”
LatestinBeauty Group is said to have a turnover of £3.5m and currently employs 15 people at its London headquarters. Last year the company teamed up with several media partners, including Glamour, GQ and the Mail on Sunday, to create tailored beauty boxes.