Faace shuts down after founder fails to find buyer

Six years after launching skincare brand Faace, founder Jasmine Wicks-Stephens has confirmed its closure. 

In a LinkedIn video, Wicks-Stephens explained her decision, citing the challenges she faced in finding a buyer after putting the brand up for sale in July of last year.

She said: "My brand is closing and I’m devastated.

"I still wholeheartedly believed in the brand and the product, and I wanted to see them live on. I was absolutely elated when I found who I thought, at the time, was going to be the perfect buyer. Unfortunately, in the last couple of weeks, the sale is no longer going ahead.

"I don't have the mental resilience to keep taking the huge highs and massive lows that come with running the business, so I've made the really difficult decision to close it down.

"I just want to take this moment to say thank you. I don’t even have the words, but thank you so much to everyone who’s supported me in any way throughout this journey. Obviously, it’s really sad and was a really difficult decision to make, but I just feel like I don’t really have a choice."

Faace was founded in 2019 with a mission to "disrupt the UK beauty industry with its fuss-free, ethical skincare designed to look after your skin when you don’t have the time or energy to do so".

The hormonal skincare brand has since introduced a number of products to its line-up, including those targeting stress, menopause, periods, tiredness and perspiration, which were all available on its own website and stocked at a number of major UK retailers.

It also achieved success on BBC's Dragons' Den, which saw Faace secure a triple investment from Steven Bartlett, Peter Jones and Touker Suleyman last year.