Point King Capital reportedly agreed on terms to make a $10 million investment for a minority stake in Makeup Cartel, the parent company for Australian vegan and cruelty-free skincare brand Esmi Skin Minerals.
WHO: Makeup Cartel is the parent company to Esmi Skin Minerals and Poni Cosmetics and claims to be Australia’s fastest-growing cosmetics brand, founded by industry veteran Evette Hess with the desire to create unique professional makeup and skincare products that were easy to use, quick to apply, and deliver fast results.
Point King Capital provides long-term growth equity to global consumer and financial services companies. PKC is supported by a discrete group of investors consisting of best-in-class global entrepreneurs, and sophisticated family offices.
WHY: The capital injection is expected to help Makeup Cartel expand its existing businesses across channels and expand internationally.
IN THEIR OWN WORDS: “Our main focus has really been Australia,” Hess told WWD. “We wanted to really perfect the relationship with the customer in a local way, and then once we achieved a standard we’re satisfied with, really put our wings out—going into the U.S. market is definitely on the radar.”
Global expansion is one of the things that the Point King team plans to help with, McKay told WWD. “We are actively working through fiscal 2021 budget planning with Evette and the team and we are looking at how we can continue to invest in talent, in marketing … and then international is a focus … with multichannel distribution.”
“We were able to communicate transparently when the pandemic started on what was the right structure for everyone to move forward,” McKay said. “The unprecedented crisis that we’re experiencing provided us with a real-life scenario for how we work through our investment partnership.”
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