Men's makeup brand Warpaint secures £1 million investment
Men’s makeup brand War Paint is to move towards expansion after securing an investment of over £1 million.
Retail and consumer sector investor True led an investment, with participation from Redrice Ventures and other angel investors topping up the amount.
Founded by Danny Gray in 2018 and born out of his own experience of wearing his sister’s makeup after being bullied for his acne as a teenager, War Paint has gone on to sell over 50,000 units worldwide.
After a successful trial in the menswear department of John Lewis on Oxford Street, War Paint For Men has seen its distribution extended after it made significant sales.
The trial saw a strong customer response, with demand reaching levels unanticipated, partially due to a successful social media marketing campaign.
John Lewis have since signed deal to sell the products in the retailer’s e-commerce site, as well as retail environments.
Claire Cherry, Investment Principal at True, told BDaily News: "At True, our seed fund looks to invest in disruptive businesses that are at the forefront of the consumer behavioural shift. We are delighted to be partnering with War Paint for their next stage of rapid growth."
“Along with the investment itself we believe their wealth of experience and their broad network will catapult War Paint to the next level as we strive to be the global leader in the men’s makeup space. The fact we were able to finalise the investment during a global pandemic illustrates just how much belief everyone has in our amazing brand.”