The Beauty Accelerator™: In Conversation with Faace
17/11/2020 by The Red Tree
Just a short three weeks ago, the winners of The Beauty Accelerator™ 2020 were announced. Positively overwhelmed by the high calibre of applicants and curious to find out a little bit more about the winners, we asked Jasmine Wicks-Stephens, founder of Faace, a set of questions to understand the journey that led her to win £150,000 in equity investment from SFC Capital and a collaborative year-long partnership with The Red Tree.
1. How did you hear about the beauty accelerator?
Social media and then on a couple of trade publications.
2. Why did you apply to the beauty accelerator? What made this the right time for your brand? Had you previously considered funding? What made tba the right for you?
Honestly no I hadn’t considered funding. We launched Faace back in February and our success over the course of the eight months far exceeded my expectations. Starting as a passion project, we’d never really set key milestones for the launch. But, since launching in key retailers internationally and our popularity growing it soon became apparent that we’d need a plan and also to invest to be able to continue to grow at the same rate. TBA came up just at the time when we started to think like this and I know The Red Tree is a great company, so it felt like an opportunity to go for. Never thinking we’d actually win to be honest…
3. What were your expectations of your chances of success before applying?
I know we have an excellent brand because of the feedback we’ve received from press, consumers and industry experts, but I still didn’t think we would win. I’ve been in beauty comms for 14 years so I know I have expertise and therefore have self-confidence in this area, but as a brand owner, I’m relatively new to all this so am still yet to cement that self-belief.
4. How was the actual application process and the completion of the application form? Was there anything you were unsure of or needed to prepare in advance?
All of it was prepared in advance of the application process. My business plan was more of a brand strategy and this process really made me go away and look at the detail of the figures as well as the brand as a whole.
This is part 1 of a three-part interview with Faace. Stay tuned for part 2 to find out about The Beauty Accelerator™’s interview process and how Jasmine prepared for it.
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