Luxury skincare brand 111Skin announced on Thursday a minority investment from Skky Partners, the consumer-focused private equity firm co-founded by Jay Sammons and Kim Kardashian.
Founded in 2012, 111Skin is celebrated for its clinically inspired formulations, advanced active ingredients, and proprietary NAC Y2 complex. The brand has gained a devoted following among celebrities, A-list makeup artists, and industry experts.
With this investment, 111Skin plans to strengthen its direct-to-consumer business and expand its footprint in key markets, including North America and Asia. Financial terms of the transaction were not disclosed.
Eva and Dr. Yannis Alexandrides, the brand’s co-founders, will maintain majority ownership and continue to lead the company alongside CEO, Vanessa Goddevrind.
“We are excited to join forces with visionary partners that will help us write the future success story of our brand,” said Dr Yannis and Eva.
“The Skky Partners team has tremendous experience working with distinctive, growth-oriented brands. They are passionate champions of our core values and share our drive for excellence,” added Goddevrind.
Skky Partners will offer investment expertise with a deep understanding of the modern consumer, culture, social platforms, and an array of distribution channels.
David Brisske, Skky Partners managing director, said, “Eva, Yannis, Vanessa, and the 111Skin team have created and nurtured a coveted brand with world-class products and a loyal customer base, which fits perfectly with Skky’s strategy. 111Skin has a strong foundation and significant ongoing potential, and we are honored to partner with the founders and leadership for the next phase of growth.”
With cost remaining a decisive factor for consumers, M&S said Friday (January 31) it’s continuing to cut prices of over 300 “family favourite” products with kidswear the latest target.
The high street retailer said it “re-affirms its commitment to delivering trusted value and everyday low prices on the products that matter most to its 32 million customers”.
The latest cuts include an up to 20% price reduction on over 100 products from its ‘everyday essentials’ Kidswear range.
Key pieces include its Cotton Rich Hoodie and Joggers as well as range of Sweatshirts, Leggings and T-Shirts which now start from £5.50, with the retailer saying the reduction in price will not compromise on the “quality or high sourcing standards it is known for”.
Alexandra Dimitriu, Kidswear director, Clothing & Home, said: “Now more than ever, customers are looking for trusted value. When it comes to clothing, we know value is more than just the product’s price – they also want confidence that it is made well and made to last and offers versatility.”
M&S reported positive figures for its festive trading period with total group sales increasing 5.6% to £4.064 billion, but much of the strength was concentrated in the Food area with Clothing, Home & Beauty, rising just 1% to £1.305 billion, with like-for-like sales rising ahead of the market at 1.9% as underlying sales grew 2.6%.
Burberry announced a key appointment on Friday with the luxury business saying it will soon have a new chief information officer.
It has appointed Charlotte Baldwin to the role and she’ll join the business at the end of March. Baldwin will be responsible for leading Burberry’s global technology team and will join the executive committee. She’ll report directly to Burberry CEO Joshua Schulman.
He described her as “a highly experienced technology and digital leader with a track record of leading large-scale digital transformation”.
She hasn’t previously worked in the luxury fashion sector but has wide-ranging experience across some major-name businesses in Britain.
She’s currently the global chief digital and information officer at coffee chain Costa Coffee where she oversees the company’s technology, digital and data organisation.
Prior to joining that firm, she was the chief information, digital and transformation officer at private healthcare giant Bupa’s Bupa Insurance unit. She’s also held senior roles at Freshfields Bruckhaus Deringer, Pearson and Thomson Reuters.
Burberry has been navigating a tough period of late and Schulman joined in the top job last year, tweaking the firm’s strategy. His approach seems to be paying off with the company last week porting improved results, although the turnaround is still undeniable a work in progress.
Another day, another shopping centre delivering a “record-breaking” performance in 2024. This time it’s Gloucester Quays “capping off another year of considerable growth”, for the owner/operator Peel Retail & Leisure.
That included record Christmas trading at the key Gloucester mall, which helped overall sales for the year finish 6.7% ahead of the national average. Across November and December, retail sales grew 3.6% compared with 2023.
Looking at 2024 in total, an overall 7.4% year-on-year sales increase across its tenants was split between 6.1% for retail, and 8.5% for F&B.
But there was also double-digit growth from leading fashion, homewares, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing and Suit Direct.
It said sustained growth was seen across all categories “points to the increasing relevance of the Gloucester Quays experience”.
Paul Carter, asset director at Peel Retail & Leisure, added: “There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands.
“These results also serve as a reminder of how relevant and in demand this outlet is. We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment. There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.”