111Skin founders on building an expert-led brand: 'We make product decisions based on patients'

When Dr. Yannis Alexandrides first formulated a healing serum for patients of his London-based plastic surgery clinic, he had no intention of turning it into one of the beauty industry’s most sought-after luxury brands. The brand came about after Dr. Alexandrides, a still-practicing plastic surgeon, sought a post-operative treatment that patients could use to heal any residual wounds and marks. But when one of his patients mentioned her affinity for the serum to a Harrod’s personal shopper, the famous luxury department store sought to stock the brand, and things took off from there. The location of Dr. Alexandrides' practice, at 111 Harley Street in London, inspired the brand name. Since starting with a single shelf in Harrods in 2012, the brand has slowly and quietly grown a global distribution network that includes Bergdorf Goodman, Net-a-Porter, Neiman Marcus, Harvey Nichols and Mecca. When the business was formed, 111Skin brought on board Eva Alexandridis, Dr. Yannis Alexandrides’ wife, as a co-founder to help with retail expansion. She now also oversees the brand's creative direction and new product development. “We never made decisions based on a board meeting or according to trends,” Dr. Alexandrides told host Priya Rao on the latest episode of the Glossy Beauty Podcast. "We make product decisions based on patients that I see in the clinic -- on real skin problems and on real skin solutions with great results. That's what sets us apart -- being a highly scientific brand that doesn't chase the trends.” This strategy has paid for the brand, which earned $20 million in wholesale sales in 2020 and approximately $50 million in retail sales. In Feb. 2020, 111Skin raised an undisclosed amount in outside funding from Vaultier7, which previously invested in hair-care brand Gisou and fashion resale platform Vestiaire Collective.