Scots make-up influencer sells stake for £5.5m
Scottish make-up influencer Jamie Genevieve has sold a minority stake in her beauty brand Vieve for £5.5m.
The stake was acquired by Active Partners, Pembroke VCT, Samos Investments and Venrex.
Geneieve will retain a majority stake in the beauty brand, which was founded in 2020. In just two years a host of top stores, including Harrods and Space NK, stock her branded lipsticks, bronzers and eyeshadow palettes.
Samos and Venrex previously invested in Charlotte Tilbury, the brand that is also led by a former make-up artist, which sold for £1.3 billion in 2020.
The 29-year-old, whos real name is Jamie Grant and is originally from Tillicoultry, Clackmannanshire, began her career in the beauty industry working on the make-up counter at Debenhams in Glasgow.
During this time she began posting make-up tutorials on social media, and quickly amassed a large following online.
She now has more than 1.4 million followers on Instagram and her YouTube videos regularly achieve over 100,000 views. In recent years she has filmed make-up tutorials with Drew Barrymore, the Hollywood actress, and travelled around the world to promote her brand.
By next year Vieve expects annual revenues to exceed £10 million.
Emma Dawson, Vieve’s chief executive, said the funds raised would be used to add staff, target overseas markets and expand the product range.
Fred Ursell, the investment director at Pembroke VCT, said: “Vieve’s impressive growth to date is testament to Jamie, Emma and the world-class management team they have built around them.
“The business is a great example of a brand leveraging community and content to engage with its customers and develop products they love to use.”