Skincare model Osea plans to ramp up product launches now that it has landed a minority funding from Cavu Enterprise Companions.
Osea was based in 1996 by mother-daughter duo Jenefer and Melissa Palmer. The Malibu-based model combines a seaweed mix with different botanicals and important oils for the product line. Phrases of the deal weren’t disclosed.
Melissa Palmer stated that her mother, Jenefer, began the model when she didn’t just like the elements that have been utilized in current skincare merchandise. Her inspiration got here from Melissa Palmer’s great-grandmother, who used to swim within the ocean off the coast of Lengthy Island yr spherical.
“She actually raised us with this reverence of the ocean as a supply of life,” Palmer stated. “All of the completely different therapeutic arts of my household have handed alongside technology to technology, after which Osea has been a manifestation of that.”
“My mother created the road when she was working a holistic wellness heart and spa within the ’80s,” Palmer stated. “It was, on the time, very on the market … just about all the pieces that was happening there’s now actually cool and classy, however we have been undoubtedly the weirdos for a very long time.”
The Cavu funding is the primary time Osea has taken on outdoors cash within the model’s 25-year historical past, Palmer stated.
Initially, the model distributed the road in high-end spas globally. Since then, it has constructed up its direct-to-consumer gross sales and constructed up its wholesale presence, too. Osea is now offered in Nordstrom, Bluemercury, Neiman Marcus, Credo, The Detox Market and launched with Ulta Magnificence in 2020 as a part of the retailer’s Acutely aware Magnificence initiative.
Right this moment, Osea has two foremost teams of shoppers — these aged between 25 and 34, after which these over 55, Palmer stated.
With the funding, the enterprise plans to ramp up product improvement and innovation, increase advertising and marketing efforts and debut its first model marketing campaign, and create a focused worldwide launch technique. Product-wise, Osea has launched about one product a yr, Palmer stated, and can look to begin launching one product 1 / 4.
The enterprise has additionally added two workforce members: Erin Cotter as chief advertising and marketing officer, and Melissa Mao as chief gross sales officer. Cotter was most lately common supervisor of magnificence and wellness at Goop, and Mao was beforehand vp of gross sales at Coola.
Regardless of the pandemic, Palmer stated Osea grew 115 p.c in 2020, and had been doubling gross sales year-over-year for the six years prior. Palmer credited her “nervousness slash instinct” with the expansion. Earlier than COVID-19 reached pandemic ranges, a buddy in Hong Kong informed her to concentrate to it, she stated. She stocked up with a view to make certain Osea was in a position to proceed with manufacturing, and when different manufacturers have been working out of inventory, Osea was seeing an inflow of customers, she stated.
“Actually a very powerful half for us of the deal is amplifying all the pieces that we’re already doing, which is simply selecting up the tempo on the innovation and as ‘clear magnificence’ is rising it’s fairly thrilling that we have been primarily right here first,” Palmer stated.
Cavu principal Jenna Jackson stated in a press release that Osea’s lengthy historical past was one of many causes the agency was concerned with it. “Cavu noticed a chance to strategically companion with Osea to ship on their mission to offer clear, performance-driven, vegan pores and skin and physique care merchandise to extra folks,” she stated.
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