Our Investment in Conserving Beauty: Turning the Tide with Waterless Skincare
At Joyance, we believe everyone deserves a fulfilling and joyful life — we invest in companies that cultivate joy through science and tech to improve the way we live, with an emphasis on the health of both our bodies and the planet. So naturally, we see huge promise in Conserving Beauty’s game-changing approach to sustainable skincare.
In 2022, investment in beauty products accelerated to new heights; skincare alone totaled $153.3 billion in sales in the US. As spending increases, consumers are also becoming increasingly concerned about the detrimental impacts of skincare ingredients on their bodies, as well as the detrimental impacts of unsustainable beauty product consumption.
With their breakthrough new approach to product sourcing and production, Conserving Beauty is exceptionally well-positioned to be at the forefront of the sustainable beauty revolution. The core ethos of Conserving Beauty is reducing beauty waste through materials innovation. Their first products are the Instamelt Makeup Wipe and Dissolving Sheet Mask. Their cleansing wipes are the first fully biodegradable, water-soluble, plastic-free, palm oil-free cleansing wipes that dissolve down your drain after use. This solves for an industry currently dominated by single-use disposable wipes that end up in landfill. As its product range grows, Conserving Beauty is focused on creating beauty products with sustainably derived and effective active ingredients. We are very excited to see what products are soon to come and to see Conserving Beauty expand their business across continents.
Founder and CEO Natassia Nicolao has a degree in biochemistry, but she started her career in operations and supply chains at Suisse, then did a stint in private equity at the Foundry and ended up as Head of Sales and Partnerships at WelleCo. The impressive aptitude for business acumen Natassia demonstrated early in her career is certainly reflected in the highly effective way she runs her company, where she has successfully secured IP and proprietary machinery, built a sustainable supply chain, secured high-profile retail contracts, and hired a strong and talented team: CMO Kim Slattery began her career in marketing at Mecca, the Sephora of Australia, then worked at Suisse alongside Natassia, heading up their digital marketing program before spending seven years leading the marketing department for Net-a-Porter’s Australia branch. The Conserving Beauty advisory board includes an impressive group of industry experts, including Australian icon Elle McPherson and the PR specialist behind David Beckham’s digital strategy and social media presence, Traci Maddock.
With genuine conviction, proven science, and a revolutionary approach to addressing a pressing issue in the beauty industry, Conserving Beauty resonates perfectly with our thesis of investing in companies that cultivate joy to improve our lives, and we firmly believe this company is poised to turn the tides in a historically wasteful and harmful market.
By Investment Partner Jenna Jung
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