The Red Tree and SFC Capital call for entries for The Beauty Accelerator
The Red Tree and SFC Capital have announced that The Beauty Accelerator is back for its third year with entries open from 1 August until 23 September.
Independent beauty brands who enter have the chance to receive £150,000 equity investment from SFC Capital, an expert in early-stage investment, plus a yearlong strategic partnership with the international brand consultancy The Red Tree.
Past winners of the programme include sustainable deodorant brand fussy, which now has sales of £3m, and fuss-free, fast acting skincare brand Faace.
The Red Tree managing director Stirling Murray said the was "delighted" that The Beauty Accelerator was returning: “The UK beauty industry is thriving with exciting, creative, and dynamic entrepreneurs building the beauty brands of the future. Over the last two years, we have met many of them and enjoyed watching – and in the case of our winners – actively participating in their success.
"Previous winners of The Beauty Accelerator include sustainable deodorant brand fussy, who have hit £3m in annual recurring revenue and have grown their team from 2 to 10 people whilst becoming the highest rated natural deodorant on Trustpilot with over 3,000 5-star reviews.
"Fellow 2020 winner Faace, have moved into retail distribution at home and abroad and raised further investment to support future growth. The success stories continue with 2020 Finalist brand Cutbox raising investment through SFC and opening five salons with a sixth on the way, and 2021 Finalist brand Atypical Cosmetics, which also raised investment through SFC to further develop their fresh serums customised for individual skin."
Murray also pointed out that this was the first time the competition had taken place outside of Covid restrictions, so The Red Tree and SFC Capital were looking forward to meeting the brands and also hearing from brands which were launched during this time.
SFC Capital CEO Stephen Page said: “The beauty sector has been disproportionately affected over the past couple of years, and it is vitally important that we actively help the industry get back to normal, and the signs are good. To accommodate the increased demand post pandemic, there has been a surge in beauty start-ups and an entirely new customer base, in the shape of virtual consultations which emerged during the pandemic.
"At SFC, we are always on the lookout for impressive companies that will become world leaders. We look forward to working with The Red Tree to support our winners over the next 12 months, and we are confident we will see some incredible applications for this accelerator.”
The best applicants will be short listed and invited to attend virtual interviews with The Red Tree at the beginning of October. The most impressive brands will then be selected to appear in The Beauty Accelerator 2022 Final on Wednesday 19 and Thursday 20 October. It is hoped that the Final will take place in person with each finalist brand expected to pitch live to The Red Tree and SFC Capital.
More information and a full list of criteria can be found here.