Former Sandro and Maje executives go into beauty<

A more natural and effective beauty, but also expert, this is the concept of the young brand Oh My Cream. In its stores, around forty niche brands, designed in Vermont or the Austrian Forest, combine natural or organic ingredients. These labels, Tata Harper, REN Skincare or Susanne Kaufman, also display an ethical approach. Values ​​in tune with the times. “We want to make it the future Sephora of accessible luxury,” sums up Emmanuel Pradère, president and co-founder of Experienced Capital, with Frédéric Biousse and Elie Kouby.

A model that works

Oh My Cream (8 million euros in turnover) is the latest "take" of this sector fund, launched in 2016 by the former managers of Sandro and Maje (SMCP). It is also the first equity investment, up to 41%, carried out on the occasion of its second fundraising of 70 million euros in mid-July. By the end of 2019, this amount will reach 150 million, with the entry of “family offices” and institutional investors.

“Our model has proven itself. Accessible luxury is taking market share in fashion, but also cosmetics, decoration and leisure, continues the manager. Thanks to our operational support, emerging brands have seen their growth accelerate. A team of 8 experts works alongside each to help them with the digital transition or inventory management...

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180 stores open

In three years, Experienced Capital has invested 78 million euros, with ten brands in its portfolio, including a third born on the Internet. They are mostly in fashion – Sessun, Soeur, Le Slip Français – but also in optics, with Jimmy Fairly glasses, or furniture with NV Gallery, an online furniture sales site. “Since 2016, our brands have multiplied their turnover between 3 to 6 times, and their Ebitda by 14, resumes Emmanuel Pradère. We shared with them our experience and our mistakes. »

These nuggets have opened 180 stores in France and are beginning their international adventure. "As a comparable number of points of sale, their growth in the first half of 2019 was on average 14%", specifies the president. Balibaris is moving to London this month, like Sessun. Others have projects in Spain, Italy and Asia. “Each can reach 100 million in turnover,” he estimates.

Targeted diversification

With this second fundraiser, Experienced Capital wants to diversify into jewelry, accessories or food for an entry ticket between 10 and 30 million euros. “Initially, 90% of the applications we received came from fashion. Today, it is only 15%, continues Emmanuel Pradère. We are looking for a brand of coffee, tea or chocolate embodied by its founder with potential. »

Finding a "nugget" is the basic credo. The latter has demonstrated his flair since 2016, with 550 files studied to “avoid flashes in the pan”. A first foreign brand, L: A Bruket, whose care products come from the Swedish tradition of spas, joined the fund in April. Others may follow.

With Oh My Cream, the former members of Sandro and Maje are betting on a new distribution model, in line with the expectations of Millennials. In 2013, its founder, Juliette Levy, found the distribution offer "too standardized". Difficult to find these young labels already shared on social networks. Hence his idea for this concept store with cutting-edge brands from all over the world. Oh My Cream already has 10 stores, in Paris, Lyon or Bordeaux. After 13 million sales expected in 2019 (including 50% on the Internet), the ambition is to reach 50 million within three to four years. Growth driven by a beauty market that is shaking up younger generations in search of more responsible products and personalized advice.