Developed by plastic surgeon Dr Yannis Alexandrides, MD of 111 Harley Street London, 111SKIN was launched following years of research into developing a product to help the skin heal more efficiently after cosmetic surgery.
During his research Dr Alexandrides 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.
Originally launched in the UK in 2010, 111SKIN has expanded rapidly achieving domestic annual turnover in the region of £2m. In 2014, the company began to sell its products in Europe and the USA, where it saw 133% growth year on year.
Initially a serum containing the NAC Y² formula was developed and given to patients following surgery to support skin repair. Strong results meant demand quickly escalated, and Dr Alexandrides created a skincare range based on the unique formula.
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.
A new deal with RBS will support financing of the firm in this growth period.
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.”
Julian Cassen, Business Development Manager at RBS Invoice Finance, said: “111SKIN is a cutting edge brand and I am pleased that we have been able to support the company as it continues to expand.
"Having worked alongside Dr Alexandrides to understand the business and its growth objectives, we have provided the company with an Invoice Discounting facility that will support working capital during this period of growth.”
If you’ve enjoyed this article about business success, sign up for similar stories in your area with the BQ Breakfast.
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement