Universal Beauty Group, a France-based natural beauty brand, has raised €1.5 million ($1.7 million at current exchange) in private equity funding.
The investment came from France-based private equity firm Audacia Capital.
Jean-Marc Delabre founded Universal Beauty Group with Vincent Faraco in 2008 initially to create and sell haircare products for other beauty companies, before producing their own line of natural products.
Today, UBC trades under the name Végétalement Provence, which Delabre and Faraco launched in 2013 to produce environmentally friendly beauty products that include a skincare, makeup and men’s personal care range.
Végétalement Provence products are sold at more than 800 locations across Western Europe, Switzerland and Russia. In 2016 the brand opened a U.S. subsidiary to expand into Florida and West Coast, and recently opened a Hong Kong office in an effort to expand into Chinese market with plans to further expand into Asia and the Middle-East.
According to UGC executives, the brand’s sales are expected to hit €5 million ($5.7 million) this year, WWD reports.
“The arrival of Audacia marks a turning point for Végétalement Provence, and will enable us to provide a wider and stronger offer to our clients reaching out to both beauty professionals and the general public,” Delabre said in a release.
The investment will be used to push production and marketing and expand the brand’s operations internationally. The company will continue to distribute its products hair-dressing salons and also plans to open a concept store in Paris in 2018.