By Samantha Conti. Source: WWD.
LONDON — Charlotte Tilbury Beauty has a new minority investor, venture capital firm Sequoia Capital. The Welsh-born billionaire Sir Michael Moritz, a partner at Sequoia Capital, will join the board. Both brands declined to comment further on the investment and how the new funds will be allocated.
Sequoia, which is based in Menlo Park, Calif., has previously backed Airbnb, Alibaba, Apple, Dropbox, Google, Instagram, JD.com, WhatsApp and YouTube, while Tilbury’s other minority investors include Venrex Investment Management, run by Mark Esiri. Venrex’s other investments include Samantha Cameron’s new brand Cefinn, Orlebar Brown, Astley Clarke and Lyst.com.
Sequoia said, in aggregate, the companies it backs account for more than 20 percent of NASDAQ’s total value. It said the vast majority of money it invests is on behalf of nonprofits and schools, such as the Ford Foundation, Mayo Clinic and MIT.
Charlotte Tilbury Beauty is a rapidly growing hybrid skin-care, makeup and scent brand. As reported, the company launched its Instant Magic Facial Dry Sheet Mask last month. “Skin is hugely psychological. Every woman wants to feel like the best version of themselves in their skin every day,” Tilbury said in an interview. “I knew I needed to create a mask that was like an expert facialist in your handbag.”
A single mask sells for 30 euros, or $32, and a box of four masks costs 110 euros, or $116. In the U.K., they’re priced at 18 pounds and 60 pounds, respectively; in the U.S., a single mask sells for $22; the set of four costs $80.
Charlotte Tilbury cosmetics products are carried in more than 70 doors globally; the fragrance can be found in more than 100 global doors. The company said it had a “fantastic 2016, delivering strong triple-digit growth.” In February, the brand entered Berlin’s KaDeWe department store in a soft launch, and sells in the U.S., Canada, U.K., Ireland and the Netherlands.
The brand has won more than 80 industry awards, and is recognized for its social, community-based marketing strategies. It is also big on innovation, introducing the augmented reality “Magic Mirror” to Westfield London and the brand’s Covent Garden shop, launching a virtual reality perfume experience involving Kate Moss, and creating the “Hot Lips x Women for Women” lipsticks. A percentage of proceeds from the sales go to the Women for Women charity.