NEW YORK, United States — Luxury supplement brand The Nue Co has raised $1.5m in seed funding led by Morningside group, an investment firm with over 150 investments in biotechnology, life sciences and green technology companies.
The capital will be used to scale The Nue Co’s new B2C model; a personalised subscription service that is set to launch online.
According to Morningside, The Nue Co is “challenging the status quo in the food supplements market,” by creating innovative products designed for the wellbeing of today’s consumers.
“We are impressed with the creativity and energy of the management team who have been very astute in accessing the retail market,” commented a representative.
Launched 8 months ago by British entrepreneur Jules Miller, The Nue Co’s luxury supplements have already caught the attention of over 50 retailers worldwide including Net-A-Porter, MR Porter, Goop, Credo, Soho House and Ace Hotel. Following an article by Vogue, which hailed the brand as ‘the chicest way to get healthy’, it amassed a 2000 person waiting list for its sold-out SKIN FOOD + PREBIOTIC products.
Based on scientific formulas that have been developed using solely natural, organic ingredients sourced sustainably from around the world, the brand’s collection is designed and manufactured in its lab in Cambridge, England, where the company first originated before migrating to New York.
Now with a portfolio of 11 products ranging from debloating wellness powders to a recently launched travel set, designed to aid in muscle tension, digestion, sleep, immunity and fatigue, the company is on track to hit $1m in revenue by the end of the year.
“I believe we have given birth to a new category,” said Miller of the brand’s rapid success.
“Health is the new luxury and consumers are looking for more than cheap, quick fixes to feel good. With an average order value of $200 and a surge in Christmas gifting purchases, The Nue Co is paving the way for a new kind of luxury consumer product.”
With 3 new collections in the works, as well as the brand’s first physical store — a 3200 sq ft space in New York — poised to open in January, Miller says the aim is to continue to create credible, natural products in a format that is not only engaging but also exciting.
“For too long supplements and vitamins have been a chore. It’s our job to make consuming health as exciting as consuming beauty,” she added.
By positioning itself as the future of luxury grooming, The Nue Co is well on its way to doing so.