La Bouche Rouge raises €10 million in funding round
After fundraising €2.5 million from Bpifrance and several angel investors two and a half years ago, the French makeup brand, La Bouche Rouge, carried out a new funding round. Women’s Wear Daily reported that with an amount of €10 million raised, the operation was carried out together with BpiFrance and two new investors: the Swiss fund Mirabaud Asset Management (Le Coq Sportif, Carel, etc.) which benefits from the expertise of former LVMH minister and chairman, Renaud Dutreil, and the Chalhoub group, a leader of luxury in the Middle East.
Founded in 2017 by former L’Oréal employee Nicolas Gerlier, the plastic and microplastics-free brand began with a collection of lipsticks before offering other face and eye makeup products. The high-end label is built around three pillars: eco-responsibility, (translating into vegan formulas made from natural ingredients) recyclable packaging, and craftsmanship. The packaging, such as those made of leather, are produced in French workshops. La Bouche Rouge additionally donates part of its profits to the Eau Vive Internationale association dedicated to building water wells in Togo.
With this new funding round, La Bouche Rouge aims to accelerate its growth, particularly in China and the Middle East. E-commerce accounts for most of the brand’s sales followed by the American, Chinese, and French markets. In the next 12 months, the company might even open a first boutique in China, its third largest market.
La Bouche Rouge might also expand into skincare and fragrances.
Copyright © 2023 FashionNetwork.com All rights reserved.
