Cosmetics retailer lays foundation for growth with £400k investment
A WEST Yorkshire-based supplier of cosmetics for some of the UK and Europe’s largest retailers is preparing for a makeover after receiving £400,000 in funding.
Retra Holdings is a tertiary branded cosmetics supplier that manufactures year-round and seasonal gift cosmetics, supplying a variety of blue-chip customers, both in the UK and mainland Europe.
Since 2006, when Retra Holdings acquired Badgequo, a well-established cosmetics supplier with over 30 years of trading history, the customer base has grown from 70 to 300 clients, with the company reporting consistently high levels of repeat business and significant sales growth.
The investment from the Enterprise Ventures SME Loans Fund will be used to develop its customer base, whilst continuing its expansion into territories outside of Europe.
Kai Arter, managing director of Retra Holdings, said: “We are pleased that Enterprise Ventures shares our strategy for the next stage in the development of the business. We have seen significant growth, particularly in the last two years, and this is set to continue. By targeting new geographical markets outside of Europe and developing our key brands globally, we plan to grow the business even further.”
Jonathan Craig, investment manager at Enterprise Ventures, said: “It has been wonderful to see Retra build out its operations, not only in the UK, but also across Europe, with some of the largest retailers as its customers. Now, as the company sets its sights on new markets outside of Europe, we feel confident that it will be able to effectively expand into additional, fast growing markets.”
Armstrong Watson in Leeds introduced Enterprise Ventures to Retra Holdings, and acted as lead adviser to the company.
Phil Bailey of Armstrong Watson said: “We have acted for Kai and Linda Arter for over 10 years since they first acquired Badgequo. It is a pleasure to work with such a well-managed and innovative company and to see it achieve success in international markets.”
Phil Bailey of Armstrong Watson (with the glasses); Jonathan Craig, Investment Manager at Enterprise Ventures, and; Kai Arter, MD of Retra Holdings
