Retail in Asia

In Sectors

Singapore’s Allies of Skin inks investment for US expansion

Singapore’s Allies of Skin has inked an investment from Meaningful Partners, as the beauty brand looks to expand its offering to the United States.

SEE ALSO: Singapore’s new lifestyle and retail destination, New Bahru, set to open from May 2024

While terms of the deal were not disclosed, the investment is believed to worth some USD 20 million, according to multiple media reports.

Allies of Skin, a science-led skincare brand founded in Singapore in 2016 by Nicolas Travis, will use the capital raise to fuel its entry into the U.S. across the digital and retail landscapes, including furthering marketing efforts, driving cutting-edge new product research and development and strategically building a U.S.-based team, according to a press release.

“We are thrilled to be partnering with Nicolas and the Allies of Skin team to continue to empower positive purpose and capitalise on the strong tailwinds in the science-backed, efficacy-driven skincare segment,” said Jake Capps, managing partner at Meaningful Partners, a Los Angeles- based firm that invests in consumer products and services businesses at the intersection of purpose and profit.

“After earning a fanatical customer base through their supercharged formulations and cutting-edge new product development, we look forward to supporting the company alongside our talented bench of beauty operating expert members as they continue to focus on the expansive U.S. market. With a lineup of clinically-backed new product launches, operational excellence and a strong team, Allies of Skin is positioned for success in the U.S. during this exciting next phase of growth.”

Travis founded Allies of Skin eight years ago with just three original products. Since its inception, the Southeast Asian brand has expanded to a complete skincare collection, using clinically-proven actives in supercharged concentrations.

“The last eight years have been an exhilarating journey, from an unknown brand to becoming Singapore’s most global skincare brand,” said Travis.

“I cannot be more thrilled to welcome Meaningful Partners as new allies to help us in the next phase of our global expansion. We had an energetic connection from the very first meeting. Their focus on mission-driven brands and their hands-on approach make them the perfect partners for us.”

Today, celebrity users of the brand include Kaia Gerber, Behati Prinsloo, Rose ByrneJanuary Jones, Phoebe Dynevor and Henry Golding – who was also an early investor in the brand, with the brand’s products available across 36 countries in 40 retail partners, including Space NK, Mecca, Sephora, Dermstore and Cult Beauty and more than 800 retail stores globally.