France-based Universal Beauty Group, which trades under the name Végétalement Provence, has secured a €1.5 million investment from private equity firm Audacia.
The funds will be put towards the company’s planned move in to the natural skin care and make-up categories, specifically production and marketing as well as fuelling expansion both in France and abroad. Plans are in progress to open a concept store in Paris next year.
“The arrival of Audacia marks a turning point for Végétalement Provence, and will enable us to provide a wider and stronger offer to our clients reaching out to beauty professionals and the general public,” commented Co-Founder Jean-Marc Delabre.
Added Co-Founder Vincent Faraco, “The experience of Audacia accompanying leading brands is a great boost to us and we are thrilled to welcome a visionary investor.”