Neom Organics secures investment from Piper

Neom Organics secures investment from Piper

Founded in 2005 by friends Nicola Elliott and Oliver Mennell, Neom Organics is based in Harrogate and operates three stores, one in Leeds and two in London (Chelsea and Wimbledon), with plans for more.

The firm was founded after Nicola, having spent seven hectic years as an editor for Glamour Magazine, noticed her own wellbeing, and that of her close friends, was affected by the stress and demands of modern life.

She decided to quit journalism and train to become an aromatherapist and nutritionist before founding Neom with former investment analyst Oliver Mennell.

The brand name is an acronym of their initials.  

Neom products are specifically designed to deliver therapeutic benefits to relieve stress, aid sleep, boost energy or lift mood by using natural fragrances to help the mind and body. 

All products are made in Britain from ethically and sustainably sourced, using only natural and organic ingredients, no petrochemical paraffin or mineral waxes, and no artificial perfumes.

With 50 people employed in the business, Neom is growing rapidly. Sales revenue has increased by 35% this year to reach £18m.

Its home fragrance and skincare ranges are sold through department stores such as John Lewis, Selfridges and Fenwick in the UK as well as flagship international stores such as Isetan in Japan.

Piper’s investment in Neom will provide the funding to enable the business to expand its product range, develop the senior team, open additional stores and increase its international footprint.

It is the third investment from Piper’s sixth fund, Piper VI, which recently closed at £125m.

Oliver said: “We first met Piper in 2009 and, since then, we have regularly worked with the team and drawn on their knowledge and expertise to help us achieve our growth ambitions.” 

Nicola added: “We are immensely proud of Neom and excited about the potential we have to help more and more customers meet their wellbeing needs. We genuinely believe Neom gives them easy, small steps that can help them feel their best every day.”

Libby Gibson, partner at Piper, said: “We know from all our research that, with such busy lives, consumers are increasingly concerned about their wellbeing.

“We have admired Neom for many years and have been consistently impressed with the quality of its products and how the brand addresses a real and growing consumer need. We look forward to helping Nicola, Oliver and the team build on their success.”

Piper was advised on the transaction by Sammy Hill and Simon Hewes from Womble Bond Dickinson, Tom Hayes from Sentio, and Matthew Wiseman from Catalyst Corporate Finance.

Neom was advised by Dahren Naidoo from Freeths and Paul Land from TLP. 

Published: 03 January 2018

Article by Chris Middleton
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