French natural cosmetics brand Waam completes first funding round
Founded in 2016, Waam Cosmetics, the French natural beauty brand with a DIY twist, has completed its first round of funding with investors Karot Capital and BPI France. The 1.5 million euros that the emerging label has raised will allow it to accelerate its growth and "become a leader in a rapidly growing market," explained Waam Cosmetics founder Dieynaba Ndoye.
Waam Cosmetics' offering includes a range of natural products, such as vegetable oils and butters, flower waters, essential oils, clay, recipe kits, neutral skincare products and natural active ingredients, all of which are sourced in an ecologically responsible manner around the world. These can then be combined to make finished products such as day creams, shampoos, toothpastes and deodorants. The brand's catalogue currently includes 150 products, a number which could grow to 500 in 2020 thanks to this first funding round.
"Waam's success in the last three years demonstrates the growing interest for do-it-yourself cosmetics using healthy, natural products. Put in the hands of a businesswoman who has financed herself up until now, these new funds will allow her to accelerate even more, to everyone's benefit," commented Charles-Antoine Morand, an associate at Karot Capital, which has notably invested in intelligent textile and natural fibre specialist Induo, and Sevessence, a company which makes natural organic perfumes with therapeutic and/or neurostimulant properties.
Initially launched through the brand's own e-shop, Waam Cosmetics has also been available on the shelves of French supermarket chain Monoprix since December. The brand, which describes itself as a digital native, can also be found in pharmacies and at Belgian retailer Di Beauty & Care, making for a total of 700 points of sale in France and abroad. And the brand is looking to boost these figures.
Waam is not the first company launched by Ndoye, a graduate from France's prestigious HEC business school. In 2007, she founded Colorii, a concept store chain dedicated to ethnic products, which boasted five locations, including one in Paris' Forum des Halles mall. In 2013, the brand was sold to Provalliance Group, owner of Saint Algue and Jean Louis David.
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