British skincare brand, Pai Skincare has raised significant financial investment of £1m from HSBC for future growth, following a 25% sales boost over the lockdown period.
The funds will support the company is multiple ways including:
- Invest in ‘Cobots’ – the brand’s solution to social distancing within the production line to support social distancing measures while improving productivity and jobs.
- Investment in Direct To Consumer Infrastructure – UK and total direct sales increased YOY in Q2. The company’s German website is slated to launch in Q4 and complete renewal of the D2D infrastructure in Q1 2021.
- Leveraging vertical integration – all parts of Pai’s business is housed in its West London HQ which allows it to respond to consumer needs in a quick and agile way while global supply chains are under pressure.
- Future fundraising plans – planning a Series B fundraise for Q4.
The financial investment from HSBC will help Pai resource new ways of working and supporting the brands growth for the rest of 2020.
Founder of Pai Skincare, Sarah Brown said: “Covid has presented unprecedented levels of business uncertainty and necessitated a fast pivot to trade aggressively out of the crisis while protecting our staff on-site.”
“These funds from HSBC will help us resource these new ways of working and support our ambitious growth plans for the second half of the year.”
Pai is a leading advocate of UK manufacturing and winner of the EEF (UK Manufacturers’ Organisation) Export Development Award 2014, First Woman of Manufacturing Award 2015 and the Queen’s Award for Enterprise – International Trade 2016.
Pai is stocked via its 6 international websites, and in department stores, premium health stores and independent beauty stores including, John Lewis, Net-a-Porter, Zalando, Sephora, Bloomingdale’s, Whole Foods, Credo and Free People.