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 was?Net-A-Porter’s FD, led the investment round and will join Cult Beauty’s board of directors. Cult?Beauty?employs 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.
Share this story