Stenders, a Latvian cosmetics producers and franchise developers, received a €1m investment.
Backers included Baltic private equity and venture capital investment management company BaltCap.
The company intends to use the proceeds to strengthen the management team with international cosmetics management expertise, store openings in the cities of Singapore and London, as well as expansion of product portfolio.
Led by CEO Julien Laporte, Stenders is a cosmetics producer with 200 franchise stores in 22 countries worldwide including 110 stores in the main cities of China.
In 2014, the company’s global retail revenues reached €27m.