Pai, an organic skin care brand, has closed a £6.4 million Series B investment, led by France-based Famille C Venture, a private investment firm of the Courtin-Clarins family, founder and owner of the Clarins Group. Pai continues to be independently owned and run, with founder Sarah Brown remaining majority shareholder and CEO.
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This funding enables Pai to break ground on new west London R&D and manufacturing facilities to meet the increasing demand for its products worldwide. It will also support plans for direct to consumer platform development and new products via the brand's Pai Labs innovation hub.
Prisca Courtin-Clarins, founder and CEO of Famille C Venture, will join the Pai board. CAPInvest, the family office which invested in Pai's Series A in 2017, will stay on as an investor and board member.
Brown said, "Our Series B raise provides the financial firepower to supercharge growth in our core markets. Innovating the hard way, by developing and manufacturing our own products, is unusual in the beauty industry. Famille C Venture shares both our passion for product creation and our values around transparency and sustainability - which is what makes it a great partnership."
Courtin-Clarins said, "We are very proud to support Pai Skincare and to be part of its thrilling journey. Sarah founded a company with a highly original model and fantastic potential. I am convinced Pai has a role to play and a key value proposal which perfectly fits with new customers' expectations. We are honoured to be able to provide solid financial backing as well as tailored support."
