Wild gets £5m funding to boost sustainable personal care aims
Design-led personal care start-up Wild Cosmetics has secured £5 million in extra funding from existing investors. Having raised £7.5 million to date, the latest cash injection will enable the beauty specialist “to double down on its mission to remove single-use-plastics and unnecessary chemicals from everyday bathroom routines”.
Financing will also be used to fund “international ambitions” while expanding its product offer “into other personal care segments”.
Claiming pioneer status in becoming the UK’s first plastic-free refillable deodorant in launch-year 2019, the subscription-based company said it has gone on to record 400% year-on-year growth in fiscal 2021, selling 2.5 million units of its gender-neutral line of “elegantly designed natural compostable deodorants”.
Supported by “massive online growth” Wild Cosmetics has expand into the physical world engaging with over 500 stockists nationwide including Waitrose, Boots, Selfridges and Sainsbury’s. It said its star plastic-free vegan refill “which has nurtured a cult instagram following” is set to triple this footprint in 2022.
Commenting, Freddy Ward CEO and co-founder of Wild Cosmetics, said: “Consumers are starting to really address the uncomfortable reality of single use plastic waste across their households. The bathroom and personal care market still has a way to go in terms of reducing household landfill. Less than 50% of products are recycled, compared with 80% of kitchen products.
“Fortunately though, the sector has shifted up a gear. We’re proud to be leading a category that has jumped seven-fold since we unveiled the first iteration of the product just shy of 30 months ago. I think we’re challenging some of the famous legacy personal care players to move and adapt quicker.”
The latest funding round was led by JamJar Investments, the venture fund led by the Innocent drinks brand founders.
Copyright © 2022 FashionNetwork.com All rights reserved.