Men’s cosmetics brand looking good for growth
Men’s cosmetics brand Shakeup Cosmetics has secured a six-figure working capital boost to support its growth plans.
Based in Bath, Shakeup is the UK’s fastest-growing brand for men’s skincare and is led by brothers Jake and Shane Xu.
With the SWIG Finance loan, Shakeup has been able to place significant orders with its manufacturers to meet growing product demand.
The business has launched its range with retailers such as Bootshas developed an export strategy by growing sales in China, Australia and Europe.
The expanding Shakeup range includes everything from face wash and moisturiser, to blemish balm cream and under-eye concealer.
The business currently employs nine people, with three jobs due to be created.
Of the funding, Jake said: “On the heels of a storming year in 2021, we had ambitious plans to keep up with the pace of our growth by launching into more markets and developing more products.
“But of course, the global trading conditions continued to be challenging, then we had geopolitical turmoil, global recession looming over us then the sharp increase in prices of just about everything, from logistics to raw material, from electricity to travel.
“These unprecedented circumstances put a huge amount of pressure on the cash for businesses throughout the country, us included. The credit line we have managed to secure with SWIG removes the worry around cash and allows us to focus on growth.”
SWIG’s business manager Rachel Thomson said: “Men’s cosmetics is growing in popularity, especially amongst millennials. It’s exciting to see Shakeup Cosmetics spearheading the movement and helping more men to embrace skincare. The fact that their products are UK made, vegan and not tested on animals makes their products even more appealing.
“As a lender, we were really impressed with Jake and Shane’s growth plans, it was clear from the outset that they have well-defined growth-oriented objectives and knew what they need to do to reach their goals.”