Hey Bud co-founders Alex Roslaniec, Fedele D’Amico and Ollie Watts. Source: provided.
Aussie hemp-based skincare brand Hey Bud has raised $2 million in funding as its trio of founders gear up for his or her subsequent section of growth, with one eye on abroad markets.
Hey Bud was based in 2018 by high-school friends turned entrepreneurs Ollie Watts, Alex Roslaniec and Fedele D’Amico, who joined collectively to make investments an preliminary $30,000 within the enterprise.
Both Roslaniec and D’Amico struggled with zits as teenagers and tried all types of lotions and coverings with out seeing a lot change, Roslaniec tells SmartCompany.
Years later, they grew to become conscious of hemp-based skincare from D’Amico’s mom, a magnificence therapist. Together with D’Amico, they began researching the advantages of hemp, which Roslaniec says has “multifaceted advantages for a complete vary of various pores and skin sorts and considerations”.
They additionally discovered there was not a lot in the best way of hemp skincare merchandise accessible within the native market on the time, which led them to launch a cannabis-infused hemp clay masks product.
The preliminary 500-unit trial run shortly bought out and the brand now sells a face oil and moisturiser, in addition to a Hey Bud applicator brush.
Over the previous 12 months, the enterprise has seen regular 21% gross sales growth, month-on-month, and gross sales are forecast to hit $4 million over the subsequent 12 months.
The founders aren’t ready to identify their new investor, however they do reveal it’s a non-public investor with a major presence within the skincare area.
This funding might be used to ramp up growth. Already, it has fuelled a partnership with gross sales activation company Rocket, led by Matt Holmes, an government with in depth expertise in skincare.
The founders are engaged on a method to get into bricks-and-mortar retailers each nationally and internationally, whereas additionally constructing out the Hey Bud crew and gearing up to launch a spread of recent merchandise.
According to the founders, a lot of Hey Bud’s growth thus far may be attributed to a give attention to neighborhood, significantly on Instagram.
The enterprise has 138,000 followers, and repeatedly makes use of the platform to run competitions, encouraging folks to tag their pals.
It’s about constructing “that tribe round our brand”, D’Amico explains.
Last 12 months, within the midst of the COVID-19 lockowns, the founders took this to the subsequent stage, making a Hey Bud VIP group on Facebook. It’s an area for about 2,500 “die arduous” followers to share ideas, methods and tales.
Leveraging that neighborhood has been “pivotal” to the brand’s success, he provides.
The crew additionally recognises their function in training round hemp merchandise, which proceed to entice a stigma.
“When folks consider hashish they consider getting excessive,” says Roslaniec.
This stigma can get in the best way of growth. Some Aussie companies on this area have had points promoting on Facebook, for instance.
That was a problem for Hey Bud within the early days, Watts explains, however he says there are methods round this, together with via training. Needless to say, there’s nothing in these merchandise that can have mind-altering results.
The enterprise has additionally used micro-influencers to unfold the phrase and educate customers.
“We’ve had about 5,000 product trainers on the market,” Watts says.
“It’s nearly educating.”