Kiwi-owned beauty and wellness business secures a $2.7m investment as it sets sights on international markets and new product growth.
Innovative Kiwi beauty and wellness brand Jeuneora has successfully raised $2.7m through its capital raise, with multiple parties coming on board to invest in the business - including a significant investment from the former owners and founders of modern furniture store Mocka.
There is now less than $300k available for new investors interested in securing a stake in the company, with the maximum target set at $3m.
Jeuneora launched the capital raise via Snowball Effect, New Zealand’s leading private equity investment marketplace - offering New Zealanders the opportunity to invest for the first time as it sets its sights on growth in international markets and new product development.
“We’re absolutely delighted to have surpassed our minimum target of $2.5m, and to have been recognised by New Zealand business leaders with this investment. With only $300k left to go we’re confident we’re going to achieve our goal,” said Monique Kaminski, founder of Jeuneora.
The former owners and founders of Mocka have acquired a 20 percent stake in Jeuneora, consisting of 10 percent acquired by way of a subscription for Class B Shares in the current capital raise and 10 percent acquired by way of a purchase of Class A Shares from the Jeuneora founders.
Since 2016, Jeuneora has supported the beauty and wellbeing of tens of thousands of customers with its premium marine collagen and plant-based supplements. After launching with just 100 units of collagen, Jeuneora has become a market-leading beauty and wellness brand, with profitable revenue growth from $0.7m in FY18 to $7m in FY21, including $1.3m of international sales in FY21.
In May this year, the company successfully launched Jeuneora Skincare – a range of premium skincare products that joined the brand’s existing line of supplements. Five new skincare products and a new supplement product are set to launch in FY22, and planning is underway for additional products to launch in FY23.
Jeuneora was also named in the 2021 Deloitte Fast 50 last month, which recognises New Zealand’s fastest-growing companies across the Fast 50 and Master of Growth indices and is currently working towards achieving B-Corp Certification within the next 12 months.
“2021 has been a huge year of growth and development for us, and we only have plans to continue that in 2022. We’re looking forward to welcoming our new shareholders to the team as we roll out our expansion into international markets and continue to innovate with new products,” said Monique.
The new major shareholders will make a board appointment and provide advice and guidance in a non-executive capacity to help scale the business. This board appointment is in addition to the intended independent director appointment, which the company hopes to announce shortly.
“This is terrific news for Jeuneora as the new shareholders bring a wealth of experience in scaling a direct-to-consumer business in New Zealand and Australia,” said Matthew Linnecar, Director, Growth Capital Snowball Effect.
Jeuneora’s impressive individual results reflect a booming local and global beauty and wellness industry, as people continue to invest in their health and wellbeing in the wake of COVID-19. Total sales of beauty and personal care products in New Zealand were NZ$1.47 billion in 2019 and are forecast to grow to NZ$1.60 billion by 2024.
Meanwhile, Australia’s beauty industry is projected to hit $6.7 billion (USD) by 2025; and the global vegan supplements industry generated $6.30 billion in 2019 and is estimated to reach $13.59 billion by 2028. Collagen market growth is set to accelerate at a CAGR of 7 percent, with a market size worth USD 76.08 billion forecast by 2028.
“We’re seeing huge trends in growth across the beauty and wellness industry both here in New Zealand and overseas, which indicates real potential as we look to introduce and grow our presence in markets like Australia and the US,” expressed Monique.
Those interested in investing in Jeuneora can visit here to register interest in the final $300k available.