A newly acquired beauty brand is being tipped to hit 拢100m turnover inside four years after it was bought by eComplete, an eCommerce growth partner and investor.
Liverpool-based Give Me Cosmetics, which was co-founded in 2017 by Dan Fletcher and Luke Mills and generates over 60 per cent of its revenue from social channels, is one of the UK鈥檚 fastest-growing beauty brands on TikTok.
Paul Gedman, co-founder of eComplete, told 老九品茶Cloud that Give Me Cosmetics had the potential to grow from a 拢20m turnover and EBITDA of more than 20 per cent to 拢100m inside four years.
Gedman will be speaking about the deal and the future of the beauty eCommerce sector at an exclusive event 鈥� entitled聽听–听at KPMG鈥檚 Manchester office on March 26th.
Give Me Cosmetics is eComplete鈥檚 second investment, following its 拢50m investment in award-winning eCommerce beauty business CurrentBody in November聽2021.
eComplete was founded in January聽2021 by former THG executives Paul Gedman and Andy Duckworth.
Gedman said: 鈥淥ne of the reasons we like Give Me Cosmetics is the brand position. The company has the opportunity to disrupt what is predominately an offline part of the market.
鈥淚t鈥檚 hard to make money from low average order values so the majority of activity happen in retail and that tends to be dominated by big brands like like聽L’Or茅al,聽Est茅e Laude聽and Unilever.
鈥淲e鈥檙e only going to buy something where the product is聽exceptional聽and we know the products at Give Me Cosmetics are really good because the reviews say so.鈥�
As part of eComplete鈥檚 lengthy due diligence process, Gedman travelled to China to see Give Me Cosmetics鈥� manufacturing operations for himself.
鈥淚t鈥檚 unreal,鈥� he said. 鈥淲hat they鈥檙e doing in China is on a whole new level. Give me Cosmetics have got better product reviews than聽many of聽their competitors.鈥�
eComplete first started looking into Give Me Cosmetics in September 2023 and announced their majority acquisition in January 2024 after a competitive process.
Gedman said: 鈥淭here are thousands of different data points that we have to look at. We have to聽prove to聽ourselves it can be a leader in the聽accessible聽beauty space and can it be a disrupter against the incumbent brands in that space? We think the answer to both questions is 鈥榶es鈥�.鈥�
Gedman also praised the vision of Give Me Cosmetics鈥� CEO聽聽Dan Fletcher.
鈥淲e really believe in Dan,鈥� said Gedman. 鈥淗e hasn鈥檛 come from a beauty background so has no pre-conceptions, which is a huge positive.
鈥淗e noticed that the women in his life weren鈥檛 been talked to by the beauty聽industry.
鈥淲omen didn鈥檛 feel connected to brands. How can they when聽brands create content with an聽image of a supermodel under a waterfall?鈥�
eComplete provide聽a package of support to the brands they work with, including financial backing and the crucial eCommerce infrastructure needed for global success.
Speaking when the acquisition was announced Fletcher said: 鈥淲e鈥檙e extremely happy with this acquisition; eComplete not only mirrors our vision and values, but they share the excitement and confidence to make the Give Me brand global.鈥�
eComplete鈥檚 event聽– 聽鈥�The path to eCommerce growth and investment in 2024鈥� – starts at 9am on March 26th at KPMG鈥檚 offices in St Peter鈥檚 Square,聽聽Manchester and is aimed at聽eCommerce founders, eCommerce professional and investors.
Confirmed speakers include Paul Gedman and Andy Duckworth, co-founders, eComplete; Dan Fletcher, co-founder, Give Me Cosmetics; Christine Liu, growth partner, TikTok; Ricky Jennings, head of eCommerce, Represent; Michael Cass, global head of strategic accounts, SellersFi; and Alex Wright, partnership manager, SHOPLINE EMEA.
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