Pioneers of the inner beauty industry, The Beauty Chef, has raised $10 million from new fund, Point King Capital, as ingestible beauty continues to pick up mainstream popularity.
According to founder, Carla Oates, the influx of capital should help The Beauty Chef expand more quickly. The plans include growing the product line globally, with sights set on Asia, funding more research in the microbiome space, building up its direct-to-consumer presence, and launching a skincare range, which the brand has been working on for the past three years.
In addition to the investment boost, The Beauty Chef has hired veteran beauty industry executive, Laurence Crussol as chief operating officer. Crussol was most recently Jurlique global deputy CEO, where she met Sam McKay, one of the founders of Point King.
“For me, having that incredible strong support in the back of the company can really help me grow the business and focus on where I am the best, which is in product development and creative direction,” said Oates.
The business is said to be growing, and industry sources said it is bringing in about $15 million in net sales, according to reports by WWD.
McKay, who partnered with Harvey Carter to start the new Australian investment fund, said the two plan to continue to look at deals broadly across the consumer space globally.
“We’re passionate about beauty and wellness and big believers in the [beauty and wellness] category,” said McKay.
Image source: thebeautychef.com