Investment growth company Silvertree Holdings has invested growth capital into South African skincare brand SKOON.
The investment of money and resources signals Silvertree’s expansion into the consumer product market, with the company offering SKOON operational support in the form of 25 ops employees, with Head of Business Development and Marketing Thandi Mbulaheni heading up the operational assistance.
Clayton Wiggill, Investment Associate for Silvertree said, “We had been scouring the personal care space in South Africa, and believe that SKOON. is perfectly placed to benefit from growth capital and access to our support platform. They have achieved an organic >100% annual growth rate over the last 4 years, with little to no marketing spend, which speaks volumes to the love that customers have for the brand.”
A natural, cruelty-free skincare brand, SKOON is sold online and in leading retailers. Throughout this month it is rolling out across three Edgar beauty stores, with its own consultants. A nationwide rollout is planned for the coming months.
Mbulaheni said, “I’m super excited about this journey. In the David vs Goliath world of cosmetics, SKOON. has, over the past 4 to 5 years, made its David-like presence felt, already. Now we’d like to see next-level take-up of the brand by a broader base of consumers. Silvertree is building on the brilliant foundation laid by Stella Ciolli and her team, and we’re ready for lift off. Our strategy is aiming for a rocket launch!”
The investment highlights the continued importance placed on the African naturals’ beauty market and the ongoing consumer demand for cruelty free products.