Beauty industry veterans secured £2.8 million in funding to fuel the launch of a new teen beauty brand, Indu, set to launch in September.
WHO: Indu is a new teen beauty brand founded by Aaron Chatterley and Richard Schiessl, co-founders of Feelunique, and Reena Hammer, former Managing Director at Urban Retreat and Global Director at Soho House. The range consists of 18 products priced from $10 to $32.
WHY: The funding will fuel the marketing plan, team development, and product drop strategy.
IN THEIR OWN WORDS: “We are playing to win,” Aaron Chatterley, co-founder, Indu, told Beauty Independent. “We want to create a global teen brand. In order to do that, it requires significant capital in terms of building the team that we want and the impact that we want to make on the market as we launch, but, most importantly, the quality of the products.”
“What our experience has demonstrated is that, if you have a very, very clear market opportunity, and you have a defensible strategy, and you have the right degree of expertise within the team, the money is certainly out there,” says Chatterley. “That’s demonstrated by the fact that the capital that we were able to access came from people who really understand beauty and understand the space that we’re going after. For them, I think it was probably an easier decision than a generic consumer fund.”
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