London-based organic skincare brand Pai announced it has inked a US$9 million Series B investment, led by France-based Famille C Venture, a private investment firm of the Courtin-Clarins family, founder and owner of the Clarins Group.
The UK skincare company said in a statement that it will use the funds for “faster growth after its vertical integration model enabled it to trade through the twin challenges of Covid-19 and Brexit.”
That growth will be facilitated by the development of its direct-to-consumer platform and a pipeline of new products via the brand’s ‘Pai Labs’ innovation hub; fuelled by the planned opening of a new West London R&D and manufacturing facilities to meet the increasing demand for products worldwide.
Despite the cash injection, Pai will continue to be independently owned and run, with Sarah Brown remaining majority shareholder and CEO.
“We are very proud to support Pai Skincare and to be part of its thrilling journey…I am convinced Pai has a role to play and a key value proposal which perfectly fits with new customers’ expectations. We are honoured to be able to provide solid financial backing as well as tailored support,” said Prisca Courtin-Clarins, Founder and CEO of Famille C Venture.
Founded in 2007, Pai Skincare claims to be the second largest UK beauty company to be certified to the Soil Association/COSMOS standard. The brand is also Vegan Society, Cruelty-Free International and London Living Wage accredited.
Founded in 2017, Famille C Venture is headed by Prisca Courtin-Clarins and using 100% family capital, serves as an entrepreneurial project that embodies innovation in the field of beauty and well-being, while still supporting Clarins in its development.