How Allies of Skin went from startup capital of S$250,000 to S$26 million in annual revenue
Having raised S$20 million from a Los Angeles private equity firm, the skincare brand is eyeing a major expansion in the US
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FRESH on the scene as a skincare company in Singapore eight years ago, Allies of Skin founder and chief executive officer Nicolas Travis thought the only way he could make it big was to go international from day one.
“As a local brand, we have to venture out overseas before we’re taken seriously; that’s just how it is,” he told The Business Times over a video call from Berlin, where the company is now headquartered.
“And the truth of the matter is also, Singapore is still – even though we are a very rich country – a really small market.”
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