LONDON — Maria Hatzistefanis, the beauty entrepreneur behind U.K.-based beauty brands Rodial and Nip + Fab, is looking to sell a majority stake in the Millennial-focused skin-care label Nip + Fab to help the brand realize its full potential globally, WWD has learned.
The company has hired Baylor Klein, who has also advised The Ordinary on its sale to the Estée Lauder Cos. Inc., to help navigate securing the right partner and completing the transaction.
For Hatzistefanis, the decision to look for a partner was a result of seeing the brand’s steady growth trajectory and realizing that to achieve its full potential, a bigger injection of capital and new management structure was essential.
“Nip + Fab has been on a double-digit growth [trajectory] since it launched in 2010, and since the beginning it has been profitable, which is very unusual in the beauty industry,” said Hatzistefanis in an interview. “Last year, we grew by 40 percent and the projection over the next three years is over 30 percent growth. We’ve come to a stage where in order to achieve that growth and give the brand its potential for becoming this ultimate Millennial skin-care brand, it needs more resources.”
According to the company, revenues last year