The luxury saffron-infused skincare brand, House of M Beauty founded by Vietnamese immigrant Anne Oliver in 2019, has successfully raised $2 million in just two months. The saffron-infused skincare line is based in Tustin, California, and has gained significant traction within the Vietnamese American community. The funds were raised from 99% female angel investors within the Vietnamese community, with the goal of securing a total of $5 million to support distribution, marketing, and merchandise efforts.
Anne Oliver's journey began when she discovered the benefits of saffron for her skin. She invested $75,000 into developing House of M Beauty, which now manufactures its products in France using premium super negin saffron hand-picked and dried the same day in Afghanistan. The brand offers four products priced between $54 and $98, and its sales multiplied 10 times between 2020 and 2021.
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The fundraising process was highly strategic, with Oliver initially reaching out to influential community leaders who quickly became ambassadors for House of M Beauty. These leaders were given an incentive to invest in the brand through a SAFE (simple agreement for future equity) note, with a valuation cap of $50 million at a 20% discount. Later investors did not receive this discount.
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House of M Beauty has already made a splash in the retail world, breaking into Nordstrom last year and selling out three times since its debut. The brand is also set to enter Neiman Marcus this summer, with plans to expand into Sephora and its international stores.
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In addition to retail expansion, House of M Beauty is working on new products, including a sheet mask, cleansing balm, jelly cleanser, essence, lip balm, and candle, as well as supplements.
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Oliver's ultimate goal is to achieve a lucrative acquisition within the next five years, amplifying the wealth of her community. As a Vietnamese immigrant, she hopes to inspire others within her community to pursue their dreams and ambitions. With the support of the Vietnamese American community and a strong vision for the future, House of M Beauty is poised for continued growth and success.
