In a strategic move to propel international growth, Australian scalp care brand, Straand, secures a substantial A$4 million in additional funding from Unilever Ventures and beauty financier Harvey Family Office. This funding round, led by industry giants, underscores confidence in Straand’s potential and the burgeoning scalp care space.
Co-founder Sarah Hamilton emphasizes the quality of investors as a clear indicator of the brand’s strength and the growing interest in addressing scalp issues openly. This investment builds upon Unilever Ventures’ earlier commitment, highlighting the sustained support for beauty brands navigating early growth stages.
With an ambitious vision to triple revenues by 2024, aiming for sales exceeding A$25 million in the next five years, Straand strategically expands its global retail presence. A pivotal partnership with Sephora is set to position Straand in over 70 stores across Australia, Southeast Asia, and the UK. Complementing this, recent forays into the US market through collaborations with Urban Outfitters, Anthropologie, Free People, and Amazon have fueled the brand’s upward trajectory.
Straand, initially launching with a range of four wet products priced from A$19-A$24, has witnessed remarkable success, with sales doubling this year. The US market, in particular, has experienced a robust growth rate of 130% month-on-month.
Rachel Harris, Partner at Unilever Ventures, acknowledges the global significance of scalp concerns and expresses excitement about Straand’s continued growth potential. As the brand expands into key markets like China and the Middle East, this SEO-optimized investment is poised to elevate Straand as a standout player in the beauty industry. With a focus on redefining scalp care, this enhanced funding paves the way for Straand’s dynamic journey toward global recognition and success.
