WAAM Cosmetics, the four-year-old French natural, do-it-yourself beauty brand, has taken its first outside investment of 1.5 million euros from Karot Capital and BPI France.
WHO: French brand WAAM Cosmetics was founded in 2016 by Dieynaba Ndoye as a DIY beauty brand developed with ingredients sourced sustainably from around the world. The range includes plant-based oils and butters, floral waters, essential oils, clays, and natural actives, as well as tools and accessories for mixing formulas. These can then be combined to make finished products such as day creams, shampoos, toothpastes, and deodorants. The brand was born online but is now also sold in brick-and-mortar stores, including Di Beauty & Care in Belgium and, more recently, in Monoprix. The brand is carried in almost 700 sales points in France and abroad.
WHY: The infusion of capital will be used for product development, expanding the team, and to support additional points of distribution.
IN THEIR OWN WORDS: “Our objective is to accelerate our development to take a leadership position in a strongly growing market that we have believed in for four years,” Dieynaba Ndoye, the brand’s founder, said in a statement. “Our wish is to share our vision of natural and customizable beauty with the greatest number of people.”
“The success of WAAM over the past three years reflects the growing interest in do-it-yourself cosmetics based on natural and healthy products,” said C.A. Morand, an associate at Karot Capital. “These new means made available to an entrepreneur who until now was self-financed will allow her to accelerate even more, to the benefit of everyone.”
- WAAM Cosmetics raised 1.5 million euros from Karot Capital and BPI France.
- The self-funded company had a cumulative turnover of more than 3 million euros since its inception and growth in excess of 60% in 2019.
- The brand’s catalog currently includes 150 products, a number which could grow to 500 in 2020.
- This is Dieynaba Ndoye’s second start-up; a graduate from France’s prestigious HEC business school, she founded Colorii in 2007, a concept store chain dedicated to ethnic products with five locations. In 2013, the brand was sold to Provalliance Group, owner of Saint Algue and Jean Louis David.
Photo: WAAM Cosmetics via Facebook