22 January 2024 Vendis Capital supports the growth of Skins Cosmetics
Vendis Capital, the consumer sector specialized European private equity fund, invests in Skins Cosmetics, a leading omni-channel retailer and distributor in the luxury niche cosmetics market
Skins Cosmetics, headquartered in Amstelveen (the Netherlands), is an omni-channel retailer and distributor of luxury niche fragrances, skincare, home and lifestyle products. Luxury niche is the ultra-high-end of this market characterized by exclusive niche brands not sold in mainstream retail and a specific consumer group fueled by discovering new products & experiences in a luxury shopping environment targeted at discovery, knowledgeable advice, service and loyalty. This ultra high-end segment of the market is fast growing and underserved in today’s retail environment. Skins Cosmetics offers a unique format not just in its current markets, but also vis-à-vis existing players in new markets.
Skins was co-founded in 2000 by Philip Hillege, who pioneered in this then emerging market by bringing together a range of luxury niche brands supported by his Skins retail brand. Today, Skins offers a well curated assortment of some 150 luxury niche brands with which the company holds strong long-term relationships. The company operates 20 stores (owned / franchised) in the Netherlands, Belgium and South-Africa, complemented by an online shop. Continuous growth is driven by Skins’ like-for-like growth of the existing store footprint (fueled by the market growth of this high end of the cosmetics market), successful store openings and an unrivalled brand positioning and impressive omni-channel go-to market platform driving consumer spend and loyalty.
Vendis Capital teams up with Philip Hillege, Claudia Pouw-Dullaart (CEO since 2019) and management, to continue the development of the company.
Philip Hillege, co-founder and current Creative Director of Skins is proud of the successes achieved in building the Skins Cosmetics brand. Philip believes that Vendis Capital is the right partner for Skins to secure the continuity of the brand’s success and further building the company in an European niche luxury company: “We believe in the qualities Vendis Capital will add to Skins’ development, supported by their familiarity with the consumer (luxury) brands industry and their experience in successfully rolling out retail concepts. Vendis Capital brings a reputation of adding value in companies’ organizations, and we look forward to a successful partnership. The entry of Vendis into the capital of the company, also marks the departure of the 5 early-stage investors that have supported us in the previous phase. I want to express my gratitude to all of them.” Philip will continue his contribution to Skins’ success in his current role.
Vendis Capital partner Vincent Braams: “Skins Cosmetics fits Vendis’ investment criteria very well; it presents a successful omni-channel retail brand offering a premium selection of niche luxury products through a strong go-to market platform, well positioned for further growth. We are excited about partnering up with Skins and are confident to grasp the available growth potential together.”
The participation in Skins Cosmetics represents the ninth investment in Vendis Capital III, the €300 million fund that was launched in 2019.