Skincare business cleans up after Michelin loan
A STOKE-on-Trent skincare company has expanded its business and moved into new premises after securing a new business loan from Michelin Development.
SkinBase, which provides its award winning facial treatment to more than 1,600 salons across the UK, has secured the funding to assist in a move to new all purpose offices on the site of the former ICL social club in Kidsgrove.
A five-figure loan from Michelin Development has helped to finance essential repair work on the building’s roof which if not carried out would have prevented SkinBase re-locating and in turn scuppering plans for the company’s expansion.
Now the plan is firmly back on track with the Michelin Development cash smoothing the way for a move into a new 5,500 square feet building which has been converted into high tech open plan office space with exposed walls and white decor.
The relocation will enable SkinBase to maintain its upward curve as the business grows, with plans to move into new markets including North America.
The SkinBase facial treatment involves the use of a fine jet of abrasive crystals which gently remove dead skin cells layer by layer, followed by a vacuum action which lifts away the debris. The process has enabled SkinBase to secure footholds in markets in the UK, Ireland, Italy, Spain and the Middle East with expansion firmly focused on first Canada and then North America.
Richard Faulkner, Managing Director of SkinBase, said: “The money from Michelin Development has been a huge help in enabling us to realise our plans. The building was ideal apart from the problems with the roof, which was quite badly damaged.
“Michelin Development stepping in and helping us with the finance to carry out the repairs quite literally prevented the roof caving in on us. That money enabled us to free up cash flow in the business and allow us to relocate as planned.”
The company has now recruited a new French intern to carry out all the translations required for its move into the French-speaking part of the Canadian market.
With North America following, the expansion could result in the firm having to double the size of its 17-strong workforce over the next few years.
Mike Cole, Michelin Development Director, said: “We are delighted to have supported SkinBase in their business expansion plans and move to new premises.
“Michelin Development welcomes the opportunity to help businesses move forward and with SkinBase we were presented with a company that was looking to breathe new life into area that had suffered economic decline in the past.
“The former ICL social club has been transformed into a modern, state-of-the-art office space and will be used as a launch pad to break into new global markets. This in turn offers opportunities for regeneration and the creation of jobs which can provide a vital boost for the area.”
