Skincare firm seeks nearly £1m to help support its growth plans
A START-UP mens’ skincare firm is seeking to raise nearly £1m to supports its growth plan.
Matt Jones, who set up S3 Advertising before exiting in 2019, is seeking investment for his latest venture Mesoa for Men.
The men’s hair and skin care business is using the Elevate digital investment platform for its fundraising target of £950,000. Mr Jones said the business is targeting revenues of £7m by 2025.
It was his own difficulties finding a simple moisturiser that inspired Mr Jones to look into the male grooming sector back in 2018. He spent 15 months researching men’s hair and skin care products, and talking to the UK’s top experts about care routines for all skin and hair types.
Mr Jones said: “For generations, men have always had to bottle up their thoughts, feelings and emotions. It was seen as weak to open up and talk about things that challenged us or made us upset.
“Likewise, it wasn’t normal to have skin and hair care routines. Talking about your skin and hairrelated issues or concerns would never be a topic of conversation you would have with your friends. Our purpose is to break the stigmas around male grooming and redefine masculinity for men.”
The company launched its online trading platform in October 2019. Six months into trading the Covid-19 pandemic struck brought a temporary slowdown in sales.
This provided an opportunity for the business to invest its technology as well as launching 18 new products and designing 10 new care routines.
The company already has 2,500 customers with a 76% repurchase rate. It is about to launch a subscription service.
Between 2011 and 2018 Cardiff-based S3 Advertising saw its turnover grow from £229,000 to £6.6m. Staff numbers expanded from three to around 45.