Skin care model Osea plans to ramp up product launches now that it has landed a minority funding from Cavu Venture Partners.
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. Terms of the deal weren’t disclosed.
Melissa Palmer mentioned that her mother, Jenefer, began the model when she didn’t just like the elements that had 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 Long Island yr spherical.
“She literally raised us with this reverence of the ocean as a source of life,” Palmer mentioned. “All the different healing arts of my family have passed along generation to generation, and then Osea has been a manifestation of that.”
“My mom created the line when she was running a holistic wellness center and spa in the ’80s,” Palmer mentioned. “It was, at the time, very out there … pretty much everything that was going on there is now really cool and trendy, but we were definitely the weirdos for a long time.”
The Cavu funding is the primary time Osea has taken on outdoors cash within the model’s 25-year historical past, Palmer mentioned.
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 bought in Nordstrom, Bluemercury, Neiman Marcus, Credo, The Detox Market and launched with Ulta Beauty in 2020 as a part of the retailer’s Conscious Beauty initiative.
Today, Osea has two fundamental teams of shoppers — these aged between 25 and 34, after which these over 55, Palmer mentioned.
With the funding, the enterprise plans to ramp up product growth and innovation, broaden advertising 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 mentioned, and can look to start out launching one product 1 / 4.
The enterprise has additionally added two workforce members: Erin Cotter as chief advertising officer, and Melissa Mao as chief gross sales officer. Cotter was most not too long ago basic supervisor of magnificence and wellness at Goop, and Mao was beforehand vp of gross sales at Coola.
Despite the pandemic, Palmer mentioned Osea grew 115 p.c in 2020, and had been doubling gross sales year-over-year for the six years prior. Palmer credited her “anxiety slash intuition” with the expansion. Before COVID-19 reached pandemic ranges, a good friend in Hong Kong instructed her to concentrate to it, she mentioned. She stocked up with the intention to be sure Osea was capable of proceed with manufacturing, and when different manufacturers had been operating out of inventory, Osea was seeing an inflow of buyers, she mentioned.
“Really the most important part for us of the deal is amplifying everything that we’re already doing, which is just picking up the pace on the innovation and as ‘clean beauty’ is growing it’s pretty exciting that we were essentially here first,” Palmer mentioned.
Cavu principal Jenna Jackson mentioned in a press release that Osea’s lengthy historical past was one of many causes the agency was taken with it. “Cavu saw an opportunity to strategically partner with Osea to deliver on their mission to provide clean, performance-driven, vegan skin and body care products to more people,” she mentioned.
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