A Brighton based company producing a range of all-natural skincare products is the latest company to receive funding from the Coast to Capital Expansion Loan Scheme.
Purepotions Skincare was originally set up in 2007 by Natalie Balmond as she sought a cream to alleviate her daughter’s dry skin condition. Unsatisfied with what was available on the market, Natalie set about developing her own solution using natural ingredients. A decade on and the company has established a strong customer base that is continuing to grow with the product now available in high street pharmacies, health food shops and other retailers across the UK.
It is estimated that 1 in 5 children and 1 in 10 adults have from eczema with many further individuals suffering from psoriasis and other skin complaints. With increasing awareness around the potentially negative effects on the skin of synthetic and chemical ingredients, there are a growing number of people seeking natural skincare products to help them manage these conditions.
Founder and Brand Director, Natalie Balmond, says: “Many of our customers suffer from skin conditions which they have, without success, tried to manage with countless products – including some medically prescribed – before finally finding relief with our range. Whether seeking products to address a specific skin problem or simply for general skincare purposes, consumers are becoming more discerning about what they put onto their bodies and we pride ourselves on both the quality and effectiveness of our products, which are made entirely in the UK with herbs and natural oils that are ethically sourced.”
Alongside the manufacture of its original Skin Salvation ointment, Purepotions has focused its efforts on continuing product development to meet the needs of its growing customer base; this includes items such as lip salve, hand cream and deodorant as well as a range for babies. The company will keep this focus into 2017 with nine new products due to be launched in the spring and more planned for later in the year.
To fund the product development, together with additional marketing and other supporting activities, Purepotions has successfully secured a £200,000 Coast to Capital Expansion Loan.
Jon Cornell, Fund Manager at The FSE Group which manages the Coast to Capital Expansion Loan Scheme on behalf of Coast to Capital Local Enterprise Partnership (LEP), adds: “The Purepotions team has done a great job growing the company organically over the last decade and they now have an opportunity to build on that hard work and success with a nationwide rollout of the product in a couple of national retail chains. This will see their products go from being available in around 500 stores to over 3000 with these 2 retailers alone. We look forward to supporting them through this period of growth and helping them take advantage of the openings available to them.”
The Coast to Capital Expansion Loan Scheme is part of the Coast to Capital Funding Escalator, a £5million initiative funded by Coast to Capital Local Enterprise Partnership. The escalator, which also includes a growth equity fund, provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities across the Coast to Capital region.
For more information about the Coast to Capital Funding Escalator please visit http://www.thefsegroup.com/coast-capital-funding-escalator or contact Jon Cornell at Jon.Cornell@thefsegroup.com tel: 07786 912674.