LONDON — British beauty brand Nails Inc. has been acquired by Pacific World Corp., which specializes in scaling consumer brands alongside its owner Prospect Capital. Nails Inc. founder Thea Green will continue to lead the company.
The terms of the deal were not disclosed, although industry sources said Nails Inc. was valued at 30 million pounds. Nails Inc. was advised by Alantra.
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The aim of the sale is to build up the product line and scale the retail and digital presence of Nails Inc. in the U.S. and Canada. Those markets currently represent more than 50 percent of sales.
Green said Pacific World Corp. and Prospect Capital “share our vision for empowering individuals” through beauty.
“This collaboration marks a significant milestone in our journey, enabling us to bring our high-quality, cult items to a wider audience in North America. With Prospect’s support, we are excited to scale our business, build new partnerships and continue to drive innovation in the beauty space.”
Green founded Nails Inc. 25 years ago. Today the brand offers a full range of polishes and nail treatments, as well as skin care, face and body masks, and makeup which sell under the Inc.redible banner.
The company has a full treatment salon at Selfridges in London, and also owns Holler ands Glow, a beauty brand specializing in bath products and masks aimed at a young Gen Z demographic. Both Nails Inc. and Holler and Glow have experienced rapid success in international markets, and especially the U.S., according to Green.
Bart J. deBie, managing director at Prospect Capital, said the company sees “incredible potential in Nails. Inc., and is excited to be part of the next phase of its journey.”
He said Nails Inc.’s “commitment to fast and agile product innovation, and passion for making beauty accessible resonates deeply with today’s consumers. We believe that, together, we can accelerate the brand’s growth in North America, and beyond.”
A Nails Inc. collaboration with McDonald’s.
Prospect added that the investment aligns with its strategy of “supporting high-growth consumer brands poised for expansion in global markets.” It said Green will “ensure that the brand’s core values of innovation, inclusivity, community and standout marketing remain central to its mission.”
The hyper-creative Green founded Nails Inc. in 1999 with $300,000 from investors.
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In a 2018 interview with WWD, she said the launch of Inc.redible and the diversification into single products such as sheet masks and highlighters was strategic, and that she always wanted her products to capture the zeitgeist or anticipate consumer demand.
The company launched sheet masks, she said, because “we felt there was this buzz about to happen.”
At Nails Inc. she was always testing new formulations, adding kale and crystals to some, and creating leather, latex, velvet and gel effect polishes. At one point she even concocted spray paint cans that dispensed polish for women on the run.
Some of her bestselling nail polish duos come in colors and textures inspired by fairies, mermaids and unicorns, the stuff of films, TV shows and children’s obsessions.
She said at Nails Inc., no one is ever obsessed with what what happened on the catwalk last season.
“The catwalk is not the only point of reference. Instead, we ask ourselves what people care about. So, at the moment, we are making polishes that are chemical-free, vegan or cruelty-free because the customer demands that as normal now,” Green said.
She has also brokered offbeat collaborations, working with McDonald’s on a red and brown polish duo, press-on nails, and Big Mac themed stickers. She has also teamed with Cheez-It and with Marks & Spencer on Percy Pig scented polishes inspired by the chewy pink candy that’s sold at the store.
Inc.redible, Green said in a 2018 interview with WWD, is a mantra as well as a standalone brand: “Why would we put ourselves in these tight boxes? We thought that if we’re Inc.redible, we can create anything, whether we want to be in bathing or skin. Whatever we want.”
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Publish date : 2024-10-14 07:23:00
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