LONDON, United Kingdom — Premium wellness brand The Nue Co. is sharpening its focus on sustainability following a $25 million cash injection.
The British-born startup, known for its cult products including topical and ingestible supplements and anti-stress functional fragrances, secured the funding off the back of a period of high growth.
Not only have the past 24 months seen the company experience 500% growth while maintaining a repeat purchase rate of 70%, but the brand has also continued to roll out its global expansion and add to its portfolio of innovative products.
According to The Nue Co., the $25m investment — won in a Series B round led by Pamoja Capital — will continue to fuel the company’s growth, centred around investments into its already-defined social and sustainability focus.
“Our aim is to completely revolutionise the supplement category and become leaders in sustainability for the health and wellness industry,” commented Charlie Gower, COO, The Nue Co.
“The backing from John and the great team at Pamoja will enable us to continue our growth, enter new markets and further develop our ESG framework,” he added.
In a statement, the brand went on to explain how its definition of health is a ‘complete ecosystem of physical, mental, environmental and social wellbeing’. Hence why its formulas are developed in their two home markets of the UK and the US, using patented extracts, sustainable and upcycled ingredients, and ingredients sourced from community projects which support local farmers and their families.
Further reflecting its philosophy that human health is intrinsically connected to the health of the planet, is the brand’s existing commitment to sustainable packaging, which is currently made from 30% post-consumer recycled paper and manufactured with 100% renewable energy. Its glass bottles are infinitely recyclable and can be returned back to the company to be reused as part of its recycling program, and its four best-selling formulas, are now available as a Refill Pouch format on subscriptions — a more sustainable option to shipping glass. It has plans to roll out this option to all capsule SKUs later this year.
This focus on sustainability is one of the key drivers of customer engagement and loyalty, shared Founder Jules Miller.
“The reason our customers choose The Nue Co. isn’t just because our formulas drive results — it’s because we are a mission-driven brand,” Miller said.
Adding: “Having worked with the Pamoja team over the last few weeks, we’re thrilled to be partnering with a fund that is so aligned to our core values. Collectively we believe success comes from developing deep relationships with your customers while ensuring that we are giving back to our community and doing our best to protect the environment around us.”
In addition to doubling down on its sustainability efforts moving forward, the brand is also working towards a launch in Asia, Australia and further expansion into the EU, UK and The Middle East. It is also gearing up towards a major retailer launch being announced this September.