True Invests In Men’s Make-up Brand, War Paint
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George Taylor
- 30th July 2020
- 6 minute read
Retail investment firm, True has recently announced that they’ve invested in the men’s make-up brand, War Paint.
Since launching in 2018, War Paint has received a phenomenal amount of attention from the press and is the first men’s make-up brand to have a fully stocked men’s makeup counter within the men’s section of major retailers such as John Lewis, Mr Porter and Harvey Nichols.
The business was founded by Danny Gray in 2018, and was born out of his own experience of being bullied for his acne as a teenager – which led him to start using his sister’s concealer and foundation to give himself confidence.
“Danny has a plan, a dream and relentless energy to help men’s mental health by giving them accessible confidence via men’s makeup. War Paint is not only a category defining brand, but it is also a truly modern brand. Redrice is a partnership of experienced operators committed to helping founders navigate today’s complexities and opportunities and we’re delighted to be investing in War Paint and being there for Danny.“
Robert Senior, Redrice Ventures Partner and former CEO of Saatchi & Saatchi
War Paint has attracted a highly diverse customer base, and has shown that men of all ages face similar issues in all walks of life. The business has now sold more than 50,000 units worldwide and will soon be taking to the skies in a new partnership with Virgin Atlantic.
Of course, the brand must take prospective consumers on an educational journey given the infancy of the market, particularly in the UK, however War Paint is on a mission to make men’s make-up more accessible to all.
A great example of how the team are already approaching this, is through their video series which tracks the highs and lows of a business breaking new ground.
True’s investment, of over one million pounds, alongside Redrice Ventures (led by Partner Robert Senior, the former CEO of Saatchi & Saatchi) and other angel investors will accelerate War Paint’s growth, by providing access to their retail and consumer technology ecosystem(s).
The investment will be used to strengthen their team and drive further brand awareness.
“At True, our Seed Fund looks to invest in disruptive businesses that are at the forefront of the consumer behavioural shift, we are delighted to be partnering with War Paint for their next stage of rapid growth. The business is ideally positioned to drive growth in the men’s make-up market due to its customer centric and relatable brand positioning, digital-first business model and high quality product range.“
Claire Cherry, Investment Principal at True
True is Europe’s only vertically integrated retail and consumer innovation and investment firm. Their unique business model includes an innovation hub that engages dynamic founders in the sector, as well as a partnership programme that includes leading players such as John Lewis & Partners, Abercrombie & Fitch, TJX and Primark.
“We’re both absolutely delighted to have partnered with such an established and reputable investment firm as True. Along with the investment itself we believe their wealth of experience and their broad network will catapult War Paint to the next level as we strive to be the global leader in the men’s makeup space. The fact we were able to finalise the investment during a global pandemic illustrates just how much belief everyone has in our amazing brand.“
Danny Gray, Founder & Matt Lumb, CEO, War Paint
You can find out more about True and War Paint on their websites.
