111SKIN has secured a funding deal with RBS Invoice Finance which will provide the business with support as it increases production and stock levels to meet growing demand from across the globe.
Founded in London back in 2010, the company has since expanded rapidly achieving domestic annual turnover in the region of £2m.
Developed by Dr Alexandrides, MD of 111 Harley Street London, 111SKIN was launched following research into developing a product to help the skin heal more efficiently after cosmetic surgery.
During his research he discovered that skin ages faster in space and so collaborated with space scientists responsible for the wellbeing of astronauts.
Together they developed the now patented NAC Y² formula which is the key ingredient of all products in the 111SKIN range.
In 2014, the company began to sell its products in Europe and the USA where its popularity has resulted on 133% year-on-year growth.
The skincare brand is now focussed on increasing product availability throughout these markets, increasing the geographical spread and number of stockists it supplies.
Dr Alexandrides said: “111SKIN is the result of many years of scientific research and development into skincare.
“The NAC Y² formula produces amazing results and I am pleased that we have been able to develop a range of products that deliver actual results.
“Continuing to publicise the benefits of 111SKIN products and expanding the brand overseas are our key strategic objectives and the support we have received from RBS Invoice Finance is a fundamental part of that.”
Today 111SKIN produces 26 products including repair serums, protective moisturisers, exfoliating cleansers and toners and is priced between £40 and £599.
It is sold at luxury stores in the UK such as Harrods, Harvey Nichols, Space NK and Net-a-Porter.com as well as on 111Skin.com.
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