Telling the truth about SME life today

Net-A-Porter founders back a new beauty brand

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Cult Beauty?describes itself as an “insider’s guide to the world’s best beauty buys”, which uses a panel of 48 top hair and beauty experts to cherry-pick products.

The London-based business?was launched by Jessica DeLuca Moore (a former investment banker) and Alexia Inge (an ex-journalist and PR agent)in June 2008 with ?70,000 of savings. Revenues have grown 300 per cent year on year.

?We came across a lot of resistance from beauty brands who saw the internet as the ?Wild West” of retail. But I wanted to create a resource to help women discern the truth about what really works from the pseudo-scientific advertising claims and airbrushed images we re all bombarded with daily,” explains?DeLuca Moore. “We want to be the most trusted beauty retailer in the world the Net-A-Porter of beauty.”

It’s a fitting comment given the background of the company’s first two investors:”Mark Quinn-Newal and Murray Salmon, both founding partners of Net-A-Porter.

The deal was announced this week?(the sum is undisclosed). Salmon, who wasNet-A-Porter’s FD, led the investment round and will join Cult Beauty’s board of directors.

CultBeautyemploys 12 people. The company tells us that it is meeting with a US investor in September and is already fielding calls from potential buyers.

One to watch.

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