The Beauty Accelerator™ 2021 – Introducing the Winner
04/11/2021 by The Red Tree
The Red Tree and SFC Capital are delighted to announce that KANKAN, a modern personal care brand on a mission to make refill and reuse the desired lifestyle choice, is the Winner of The Beauty Accelerator™ 2021. KANKAN will receive £150,000 equity investment from SFC Capital, subject to the completion of commercial due diligence and agreement of terms, as well as strategic guidance from The Red Tree over the next 12 months.
Independent beauty brands across all categories applied to The Beauty Accelerator™ 2021 and after a competitive interview round, Atypical Cosmetics, KANKAN and This Hair Of Mine were selected to appear in The Beauty Accelerator™ 2021 Final. Each of the brand founders pitched to The Red Tree and SFC Capital and after debate and deliberation, KANKAN was unanimously selected as the deserving winner.
Reflecting on to The Beauty Accelerator™ 2021, Stirling Murray, Managing Director of The Red Tree said:
“We were delighted by the quality of the 3 finalist brands for The Beauty Accelerator™ 2021. Their pitches in the Final were excellent and showed the hard work that each brand had made to get this far. We highly commend our runners up, Atypical Cosmetics and This Hair Of Mine and thank them for their participation in a closely fought competition. Both brands have impressive founders, creative propositions and will undoubtedly have successful futures. KANKAN, stood out due to their dynamic and formidable founders, Mary McLeod and Eliza Flanagan, their demonstration of growth and traction so far and their innovative solution to a global plastic waste problem. We congratulate KANKAN and are excited to be working with Mary and Eliza to support their growth over the next 12 months”.
Adam Beveridge, Investment Associate for SFC Capital said:
“We were very impressed with the quality of companies in this year’s competition. Each team showed great passion, expertise and ability to execute, ultimately validating that the beauty market has some great disruptors coming through. KANKAN showed that little bit of extra innovation in their growth and acquisition plans and looks to be a genuine solution to fighting bathroom waste, which shockingly still accounts for 30-40% of total landfill. We fully endorse their mission and look forward to supporting their journey with our investment”.
Discussing their win, KANKAN founders Mary McLeod and Eliza Flanagan said:
“This is a great opportunity for KANKAN. We can’t wait to work with The Red Tree and SFC Capital to build on the initial traction and to offer a truly sustainable solution for our elevated bathroom essentials. Thank you to everyone who has been part of our journey so far”.
The Red Tree is the UK’s leading international beauty brand consultancy and a powerhouse of ideas, insight and inspiration. For an informal discussion on how we might help you, please contact us.
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Any company entering The Beauty Accelerator™ competition must be based and registered in the UK.
The scheme by which investment into the winning brand will be made is the Seed Enterprise Investment Scheme (SEIS). You must be eligible for SEIS to enter The Beauty Accelerator but you do not need to be registered for SEIS. You can be in the process of applying for SEIS and receiving Advanced Assurance from HMRC, which is free of charge to obtain and certifies to investors that the criteria necessary to qualify for SEIS have been met by the company at the time of the application. You do however need to be SEIS registered at the point of investment.Click here For further information about SEIS
As is the case with all equity investments, the winning brand must be willing to provide equity stakes for both SFC Capital and The Red Tree. In addition, the winning brand might be required to pay a monthly fee for the duration of the 12 month period of assistance from The Red Tree. The size of the equity stakes for both SFC Capital and The Red Tree are unknown at this stage and will be based on the valuation of the business at the time of investment. The value of the monthly fee to The Red Tree will be determined by the scope of work required by The Red Tree and will be agreed in consultation with the winning brand. The equity stake, monthly fee and scope of work will be discussed in further detail with short listed brands during the interview stage.
Brands that applied for The Beauty Accelerator™ 2022 can apply for The Beauty Accelerator™ 2024.
Applicant brands should ideally have proof of concept – the business should ideally be in operation with at least one product currently retailing on the market, an existing website in operation and a number of months of trading.
Under exceptional circumstances, brands that are at concept stage will be considered.
There should be a team in place or a willingness to take on a co-founder at an early stage.
A business plan must be in place and submitted as part of your application to demonstrate the revenue that can be delivered.
The business should not be valued at more than £1,000,000.
All R&D should be completed as funds invested will only be used for marketing and commercial activity.
If you are short listed, you must be available to attend the virtual shortlist interview. It is likely that short listed brands will be required to attend more than one virtual interview.
If you are a Finalist, you must be able to attend The Beauty Accelerator™ Final, either virtually or in-person.
You cannot apply for or already be in the process of applying for another accelerator or incubator during the period December 2023 to December 2024.
If you are selected as a finalist, and if you go on to win The Beauty Accelerator™, you must agree to exposure of you and your brand through The Red Tree’s, SFC Capital’s and Freeths online and social channels and a possible marketing campaign.
Confirmation of the winning brand is subject to SEIS eligibility confirmation, agreement on equity stake and The Red Tree fee, and completion of due diligence.
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