Gray’s introduction to makeup came many years before when he borrowed foundation and concealer from his sister to hide his teenage acne. To support the launch, he received an offer of 70,000 pounds or almost $89,000 on “Dragon’s Den,” the British version of “Shark Tank,” but turned it down. It kicked off with six products: Concealer, Tinted Moisturizer, Anti-Shine Powder, Foundation, Bronzer and Application Brush. In 2018, Danny Gray, former head of contract hire and daily rental at car leasing and management company Tuskerdirect, launched War Paint with 50,000 pounds or $63,675 from savings and remortgaging his house. In a statement to Private Equity Wire, Claire Cherry, investment principal at True, says, “At True, our seed fund looks to invest in disruptive businesses that are at the forefront of the consumer behavioral shift, we are delighted to be partnering with War Paint for their next stage of rapid growth. The business is ideally positioned to drive growth in the men’s makeup market due to its customer centric and relatable brand positioning, digital-first business model and high-quality product range.” Launched by Danny Gray in 2018, men’s makeup brand War Paint received almost $1.3 million from the firms True and Redrice Ventures, and angel investors in its latest round of funding. “We want to become the brand that, if anyone is asked about a men’s makeup brand, the one they will say is War Paint.” We wanted the right investors who really get the brand, who feel as passionate as we do about the potential of the brand and who have a wide network of contacts to help with the growth of the brand,” says War Paint CEO Matt Lumb. True, a retail- and consumer brand-focused investment firm with the beauty companies Bleach London and Magnitone London in its portfolio, joined Redrice Ventures, a seed-stage investment firm backing purpose-driven consumer brands and led by former Saatchi & Saatchi CEO Robert Senior, and angel investors to participate in War Paint’s funding round. War Paint is on a path to major expansion.Īrmed with an investment of 1 million pounds or $1.27 million, the London-based men’s makeup brand has set its sights on spreading beyond the United Kingdom to become a leader in its nascent segment globally.
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