Dragon Approved Beauty Brand Faace is Looking for a Buyer

Faace’s founder, Jasmine Wicks-Stephens, who recently won the backing of three Dragons in the den, took to social media to share that she is selling Faace and looking for a buyer to take the brand to new heights. The news comes despite five years of success - including multi-award wins, investment from three Dragons’ den hosts earlier this year, 50+ retailer launches and a roster of celebrity fans.

"My brand has so much potential—I got three Dragons in the Den—but I'm walking away, and I want to explain why," Jasmine revealed. Since its launch in 2020, Faace has garnered attention from celebrities and makeup artists, won numerous awards, and secured placements in over 50 retailers worldwide. Despite these achievements, sustaining the business has proven difficult.

Jasmine elaborated on the hurdles: "I can't believe five months after watching myself on Dragons’ Den I'm having to sell the business. There’s been so many wins, but nothing was ever enough." She highlighted notable moments like Emma Corrin's endorsement in Vogue and collaborations with organisations such as The Menopause Charity and Hey Girls.

The founder emphasised the uneven playing field for independent brands in a booming beauty industry: "It’s important that we discuss how challenging it is for indie brands to make it. Whilst beauty is booming, the reality is an unlevel playing field. Most of the time it comes down to cash."

Jasmine shared insights into the financial pressures and competitive landscape, noting that leading global brands often face financial challenges in their initial years. "I had a chat with a VC fund recently who admitted to me that they want to see returns of £250 million and growth month on month to get there. That pressure… can you imagine?!"

Reflecting on Faace's journey, Jasmine acknowledged some missteps: "We did too much too soon. I said ‘yes’ to every opportunity that came our way, launching in too many retailers and countries without strategic planning." Additionally, the brand faced issues with suppliers, which further complicated operations.

Despite these setbacks, Jasmine remains optimistic about Faace's future. "I still believe in the brand wholeheartedly. My dream is to find someone who is properly set up to make Faace as successful as I know it could be." She envisions a buyer with the necessary infrastructure—marketing teams, R&D, logistics—to capitalise on Faace's success.