Underlining Beauty, the parent company of Nailboo, has raised a $6 million seed round that it plans to make use of to scale up the business.
The round was led by Peter Warnøe and Christian Tarp at Nordic Eye Enterprise Capital, a fund in Denmark. With the capital, Underlining intends to expand its direct-to-consumer business, create more product lines and launch in retail.
At once Underlining operates three brands: TatBrow, Nailboo and Hide, a skincare line. The corporate relies in Miami, and was founded by Raz Romanescu. Amanda Johnson, the cofounder of Mented, joined Underlining as chief marketing officer in 2021.
“We wish to turn out to be a worldwide consumer distribution company with a portfolio of iconic brands,” said Romanescu in an interview. To do this, Romanescu said Underlining will expand the product offerings for existing brands, and launch a brand within the hair space within the third quarter.
“On the Nailboo front, we’re releasing a whole nail line for purchasers — press-on nails, gel polishes, hand and feet masks, cuticle oils, remover, etc.,” Romanescu said, noting that the road is launching with Sally Beauty. Tatbrow and Hide may also increase their product offerings in brow and skin, respectively, he said.
“Primarily the funds are used for product expansion, hiring some more key personnel who will help sustain the expansion of the business and set our infrastructure for beginning to move into retail and international expansion,” Romanescu said.
Industry sources said Underlining will do around $60 million in sales for 2022, and with major growth plans, could expand to around $500 million in sales for 2025.
Underlining’s three brands are sold on their very own individual web sites, he said, but Underlining plans to launch one website that sells all of its brands in the long run. The business also plans to launch into several English-speaking international markets this 12 months, Romanescu said, ticking off the U.K., Australia and Canada.
“We’re really good at constructing our own brands, launching them and constructing that customer demand and listening to our customers through data tell us what they need to see next,” Romanescu said. The business interacts with customers through Facebook groups and SMS messaging.
“We actually surveyed our existing customers and asked them which products they would really like to see next, and that’s what we based our product development road map on,” Romanescu said.
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