Growth Partner has completed an investment into Additional Lengths, a leading hair extension products specialist
Growth Partner has completed a significant investment into the fast-growing hair extensions specialist, Additional Lengths, taking a minority stake to help accelerate its growth plans in the UK and internationally.
Additional Lengths was founded in Stockton-on-Tees in 2003 by experienced hair professional and entrepreneur Victoria Lynch, and she has since grown it into a market leading and multi award winning UK hair extensions specialist. Over the last five years in particular Victoria and her team have achieved exceptional growth, with sales accelerating from £5 million to over £18 million. This scale has been underpinned by moving into a larger distribution centre and HQ, investing in higher stock holdings to meet growing demand, and hiring a number of key staff to gradually bring all core functions in house (such as marketing). This has provided the platform for the business to become far nimbler and more reactive to opportunities, and really focus on building its loyal, stable and growing customer base of professional stylists using the Remi Cachet brand alongside selling direct to end consumer and entering international markets. The business sells a wide range of premium quality focussed hair extensions, accessories, electrical styling tools and aftercare products to service everything from the application of hair extensions, through to the ongoing aftercare and replacement.
Victoria has spent over 30 years in the industry, turning her hobby for hair into a business, quickly identifying a gap in the market to provide a higher quality of human hair extensions to her customers alongside outstanding levels of service and aftercare. Today, Additional Lengths acts as its consumer focussed platform, selling a wide range of their own brands and third party products, via its e-commerce website. Remi Cachet products are sold to all customers via Additional Lengths platform but primarily direct to hair salons and qualified hair professionals around the country and internationally, via its Remi Cachet trade members website which provides them with benefits and exclusive discounts.
This investment will support the acceleration of strategic opportunities for the business, to expand the team, grow internationally and launch new products. Earlier in the year, the business has already launched a new mid-market focussed “deluxe” range of real hair extensions under the Remi Cachet brand as well as launching a range of high-performance electrical styling tools under a totally new “Qute” brand. The business is also in the process of opening a new flagship site in Stockton at the start of 2023 which will update the existing offering and bring together a specialist hair extension salon, retail store, and professional training centre for qualified hairdressers.
With Growth Partner’s investment and Richard Harpin’s strategic insight and expertise in international expansion and scaling multi-channel consumer businesses, Additional Lengths will embark on its next stage of exciting growth. Growth Partner Investment Director, Alex Marsh, led the deal for Growth Partner and joins the board as non-executive director.
Adam Rayner and Stephanie Brown at Muckle provided legal advice, Ian Robinson at Sentio Partners provided financial due diligence, and Luminii Consulting provided commercial diligence for Growth Partner. Additional Lengths and Victoria were advised by Duncan Reid and Kirsty Adamson at Weightmans and Chris Hall at Censis.
Additional Lengths Managing Director, Victoria Lynch said “This is such an exciting time for the company, and I am so proud to have built such a strong foundation to achieve what we have to date. You could say we have achieved this as organically as the products we sell – without a sales team, reliance on influencer marketing or previous external investments. Add just 2 of those into the mix and you can imagine the growth levels we could hit. Partnering with leading business entrepreneur Richard Harpin and his highly skilled team at Growth Partner, was an offer I couldn’t let pass, as we can accelerate the business to the next level and deliver our future plans both domestically and internationally, whilst remaining unique and independent in a competitive market. The financial investment will allow us to move forward at a faster pace and achieve those goals together.
Growth Partner Investment Director, Alex Marsh added “Hair extensions have become one of the fastest growing categories across hair & beauty as its demographic appeal continues to widen. The products have such an instant and transformational impact on a person’s look, that they quickly become embedded within the everyday lives of users – who as a consumer group (both hair professional and end consumer) have an increasing focus on quality, service, and consistency of hair product performance. Victoria and her team have done an outstanding job to establish Remi Cachet as the most trusted premium brand with hair professionals in the UK. We’re extremely excited to have partnered with Victoria and support her as she continues to build the team, launch new products, and expand internationally”