www.eclobeauty.com
We are building Europe's
clean beauty supplement leader.
An established platform, 16K+ customers, 100 retail stores. H2 2026 launch of the highest-LTV category in beauty, led by a team that has already scaled.
ECLO BEAUTY — APRIL 2026 — CONFIDENTIAL
01 — THE TEAM
Marine Archer
CEO
Former CMO Nutripure (1M€→100M€, +90%/yr, PAI Partners exit 2024). 15 years in skincare and beauty.
ESSEC. Marketing Director NAOS/Bioderma. International marketing LATAM & Middle East. International Product Manager Pierre Fabre (Klorane).
Julien Callede
CO-FOUNDER
Co-founder of Made.com (0→£450M revenue, IPO 2021). COO for 7 years — operations, supply chain, European expansion.
HEC Paris. Board Decathlon Performance Sports. First shareholder and non-exec Healf.com, NextMomentum. Pre-seed investor.
02 — THE NEW EVIDENCE
Beauty supplements,
the new well-ageing imperative.
3B€
French supplement market 2025
+9% total
+25% online
61%
French adults take supplements
+102%
Collagen growth in pharmacy — the category is exploding
We have entered a new era of aging and self-care. The glow-up comes from supporting the systems that keep the body vibrant, and alive.
Longevity starts from within. After 40, the body needs cellular support. This is the positioning Eclo 2.0 was built for.
03 — THE MODEL & EXITS
A model with very high recurrence.
The big players have noticed.
WHY SUPPLEMENTS
Purchase frequency4–12×/year
Subscription rateup to 80–90%
DTC gross margin75–85%
CAC payback1–2 months
Customer LTV (3Y)800€–1,500+
RECENT EXITS
Nutrafol
Unilever 2022 · Revenue doubled post-acq.
$800M
Vital Proteins
Nestlé 2021 · Collagen · ~$250M rev.
$500M+
Nutripure 🇫🇷
PAI Partners 2024 · 1M€→100M€ · +90%/yr
majority
Europe is 5 years behind the US. Pharma brands dominate but lack beauty credibility. DTC beauty brands haven't leapt. Nobody has done it for beauty yet.
04 — A CATEGORY THAT PRODUCES CHAMPIONS
A category that produces champions — even in Europe.
Supplements, superfoods, nutrition — champions scaled on little, often zero, outside capital. And France already produces them. The ground Eclo 2.0 is built on.
Organised
🇬🇧 UK · protein + collagen · 1 SKU
£30M run-rate in 24 months · only £70K raised
Sold out 4× in 8 months.
IVB
🇪🇸 ES · food supplements
€20M revenue in year 2 · 50% EBITDA
Direct European comparable.
Nutripure
🇫🇷 FR · sports / supplements
€1M → €100M+ · +90%/yr · bootstrapped
Majority acquired by PAI Partners (2024).
Laboratoires Uma
🇫🇷 FR · women's supplements
€3.61M revenue in year 2 · profitable · bootstrapped
Direct French comparable.
Humble+
🇫🇷 FR · collagen
€3M revenue · €1M EBITDA · 3 people
Structural margin, minimal team.
Bonjour Drinks
🇫🇷 FR · coffee + nootropics
€30M in 2 years · 3 people
Hyper-growth, ultra-lean team.
Glow25
🇩🇪 DE · beauty collagen
DTC collagen leader in DE · FT1000 #96
Closest to Eclo in DTC beauty.
Heights
🇬🇧 UK · braincare
£20M ARR (2025) · ARR doubled in one year
Bootstrap-friendly braincare DTC.
Healthy Metal
🇬🇧 UK · magnesium
£1M / month in 24 months · 1 SKU · 3 people · £60K raised
DTC magnesium · evening ritual.
THE THESIS
Three years of exits and hyper-growth in the category converge on the same pattern: limited capital, fast product-market fit, recurring consumption. France is already producing its champions — Eclo applies the same equation: €10M revenue targeted in 2029, for €300K raised today.
Organised / Healthy Metal / IVB / Laboratoires Uma / Humble+ / Bonjour Drinks confirmed via direct sources. Other figures from public reports and press, verified across 2024–2026 coverage.
05 — THE SUPPLEMENT OPPORTUNITY
Beauty supplements is the biggest opportunity in beauty — and France is the right market, right now.
A 5-year US lead now reaching France. Active consolidation, consumer readiness, empty clean-DTC-beauty quadrant. The conditions have never aligned like this.
WHY SUPPLEMENTS IS THE SINGLE BIGGEST PLAY IN BEAUTY
HIGHEST LTV IN BEAUTY
4–6× higher LTV than skincare. 6–12 orders/year/SKU on subscription vs 1–2× for traditional beauty. Payback in weeks, not quarters.
FASTEST-GROWING BEAUTY SEGMENT
Global ingestible beauty: $8B+, +10–12%/yr (Mintel / Euromonitor). Total supplements: $180B+ globally. Outpacing skincare, colour, haircare combined.
US HAS PROVEN THE MODEL
Nutrafol: $450M+ rev, acquired by Unilever (2022). Ritual: $200M+ rev, Series C (2023). Olly: acquired by Unilever (2019). Hum, Moon Juice, Pique scaling. Every major holdco is hunting for a clean DTC beauty-supplement brand.
SCIENCE + CLEAN FINALLY CONVERGE
Consumers now demand RCT-backed efficacy AND clean sourcing. Most pharma brands have science but no lifestyle credibility. Most clean brands have lifestyle but no science. The overlap is empty.
WHY FRANCE IS THE RIGHT MARKET, RIGHT NOW
MARKET SIZE & GROWTH
French supplements: €3B in 2025, up from €2B in 2020 (+50% in 5 years). Beauty/skin sub-segment: +9% overall, +25% online. Oral collagen alone: +102% in pharmacy (2023–2024).
CONSUMER IS READY
61% of French adults take supplements (up from 45% in 2019). 72% of our own customer base already buys supplements elsewhere. 77% trust "science-backed natural" brands.
ACTIVE M&A WAVE IN FRANCE
PAI Partners → Nutripure (2024). PharmaLab → Biocyte. L'Oréal scouting beauty-ingestibles. 3 major FR exits in the last 24 months. Multiples: 3–5× revenue. This is the PE window.
NO DOMINANT CLEAN-DTC-BEAUTY PLAYER
Nutripure: functional/sport, not beauty. D-Lab / Biocyte: pharmacy, no DTC. Combeau: single-active, not clean. Les Miraculeux: lifestyle, no clinical. No one owns clean + clinical + DTC + beauty.
THE CONVERGENCE
A $8B+ global category growing +11%/yr, a €3B French market primed by 5 years of US proof, a 24-month PE window, and a single brand positioned to own the clean + clinical + DTC + beauty quadrant.
06 — ECLO TODAY
A brand already built,
ready to scale.
16,500+
DTC customers
Captive, activable base
Captive, activable base
~100
Retail stores
Inbound B2B requests
Inbound B2B requests
4.81/5
Product rating
86% at 5 stars · 2,300+ reviews
86% at 5 stars · 2,300+ reviews
150+
Press features
ELLE, Vogue, Marie Claire
ELLE, Vogue, Marie Claire
B Corp certified · Cosmos Organic · 100% natural · Zero plastic
07 — IN NUMBERS
~50K€/month turnover. 51% recurring.
Quarterly recurring revenue · +934% in 3 years · from 15% to 51%
RECURRING REVENUE
27K€/mo
● ~10K€ BtC
● 15€–20K B2B
● 15€–20K B2B
74%
B2B margin
3.24×
Ad ROI · spend -35%
STOCK VALUE
250K€
At cost — worth 1M€+ retail. Covers 6+ months.
CASH POSITION
Controlled
Reduced burn. Fixed costs <20K€/mo. Lean team (4).
NEXT LAUNCHES
May 26 · Regenerating Hand Balm
July 26 · Eye Patches + 4 supplement SKUs
Nov 26 · 1 supplement SKU
July 26 · Eye Patches + 4 supplement SKUs
Nov 26 · 1 supplement SKU
08 — RECENT LAUNCHES · LIFETIME ROI
€70.9K invested → €100K already collected. + ~€374K still in stock to sell.
Odoo data · same horizon as the original snapshot · excluding B2B Blissim deal (7,000 pencils ordered at ~€1/u, deal carve-out). Today's revenue is only a fraction of the initial batches: 56% of Soin Concentré · 30% of Sérum Lèvres · 13% of Crayons. The rest is still in stock to sell, at the same margin, with no new investment.
Our 3 most recent launches are all successes. Each one profitable from the very first batch — projected lifetime ROI of 3.25× to ~13× — with the remaining stock still to sell at the same margin.
Soin Concentré
Launched Sept 2025 · 2,654 units sold · 2,121 in stock
INVESTED
€26.3K
REVENUE TO DATE
€48.2K
56% OF BATCH SOLD
~€38K STILL IN STOCK
PROJECTED LIFETIME ROI
3.25×
~€85K total revenue at end of batch
Run-rate €5.2K/mo · stock cleared in ~10 more months at current pace
Lip Serum
Launched Dec 2025 · 1,477 units sold · 3,471 in stock
INVESTED
€20.8K
REVENUE TO DATE
€23.0K
30% OF BATCH SOLD
~€53K STILL IN STOCK
PROJECTED LIFETIME ROI
3.63×
~€75K total revenue at end of batch
Run-rate €5.0K/mo · stock cleared in ~9 more months
3-in-1 Pencils
Launched Feb 2026 · 3,316 units sold · 22,042 in stock · excl. Blissim
INVESTED
€23.8K
REVENUE TO DATE
€29.1K
13% OF BATCH SOLD
~€283K STILL IN STOCK
PROJECTED LIFETIME ROI
~13× potential
~€310K batch (excl. Blissim deal)
Run-rate €7.3K/mo ↑ · 70% of revenue from B2B
CUMULATIVE · 3 LAUNCHES
€70.9K invested · €100K already collected · ~€374K still in stock at retail value. Cumulative lifetime ROI ~6.7× · Soin + Lip Serum alone: ~3.4×. Pencils: ~13× potential excl. Blissim deal.
Data extracted from Odoo · same horizon as original snapshot · excluding B2B Blissim deal (7,000 pencils ordered at ~€1/u, deal carve-out). Invested = Odoo COGS (standard_price × batch total). Stock at retail value = remaining units × average HT selling price per product (Pencils: €12.83/u, non-Blissim average).
09 — B2B GROSS MARGIN
+14.5 points of B2B gross margin in 6 months
From 53% (Q4 2025) to 67.5% (Mar 2026) — driven by 3-in-1 pencil launch, new B2B bestsellers at 20× markup. Realistic blended B2B margin target: 50–55%.
34%
Q1 25
60%
Q2 25
44%
Q3 25
53%
Q4 25
66%
Q1 26
67.5%
Mar 26
What drove it
3-in-1 pencils at 20× markup — new B2B bestsellers with low cash intensity. Single product responsible for +12pts margin gain in Q1 2026.
Outlook
New stable margin observed over the past few months. Expected to hold or continue to grow.
10 — PRODUCT MIX TRANSFORMATION
18 months of transformation.
From V0.1 makeup to a high-recurrence model.
SEPTEMBER 2024
Before mascara launch
Makeup V0.1 73%
15%
● Makeup V0.1 73%
● Mascara 5%
● Skincare 15%
● Pencils 7%
Classic makeup = 78% of revenue
→
MARCH 2026
18 months later
V0.1 22%
Masc. 18%
Skincare 31%
Pencils 28%
● Makeup V0.1 22% ↓51pts
● Mascara 18% ↑13pts
● Skincare 31% ↑16pts
● Pencils 28% ↑21pts
Skincare + Pencils = 59% of revenue (was 22%)
MAKEUP V0.1
73% → 22%
Progressive phase-out
MASCARA + SKINCARE
20% → 49%
Strong repeat · 1–3×/yr
PENCILS
7% → 28%
20× markup · #1 B2B
NEXT 2 LAUNCHES — ACCELERATING THE TRANSITION
MAY 2026
TACTICAL LAUNCH
Regenerating Hand Balm
Quick win · Strong repeat (2×/yr) · Low batch cost · Tests the regenerative positioning before supplements.
JULY 2026
STRATEGIC LAUNCH
Eye Patches
Strong repeat (2–3×/yr) · High Instagram/UGC potential · Bridge between skincare and supplements · Builds the repeat habit.
ECLO 2.0
Starting July 2026.
12 — CUSTOMER VALIDATION
Our customers already buy supplements.
We surveyed our customers. The market is already inside our base.
72%
Already buy supplements
From other brands. Capturing existing spend.
90%
Buy for clean ingredients
Same purchase driver. No repositioning.
74%
Indications covered
Looking for one or more indications covered by our supplement range.
74%
Trust ingredient science
Trust transfer already done.
51%
Revenue is already recurring
+934% in 3 years. Repeat is already the engine.
16K+
Addressable DTC customers
Captive base. Zero incremental CAC to launch.
13 — OUR PRODUCT STRATEGY
Innovation. Regeneration. Rituals.
01 — Classic brands repair the skin. Eclo renews the conditions for beauty.
Cellular energy, inflammatory balance, hormonal and nervous balance. No French brand has taken this territory.
02 — Complete formulas, built as systems.
8 months of formulation. Patented actives — ExceptionHYAL®star, Reggenerate®, SkinAx2™, Kaneka CoQ10, Ceramosides® Seppic, Albion®. Formulas designed as protocols.
03 — Innovative, non-animal, clinically superior sources.
Eggshell membrane collagen — vegetarian, biosourced, upcycled. 100% algae Omega 3 — no fish, no odor, optimized DHA/EPA ratio (500mg DHA / 100mg EPA). Natural and performance are no longer opposed.
04 — Designed to be taken. Really.
Two capsules per day. No taste. No odor. Adherence is problem #1 — we built it in from the start. A product taken daily is worth infinitely more than one that's forgotten.
14 — FORMULATION ECLO
2 pillars, 4 proofs. A positioning no competitor can replicate.
PILLAR 1 · REGENERATION
Act on the skin.
Patented actives, active doses: ExceptionHYAL®, Reggenerate®, SkinAx²™, Céramosides®, Fermentalg DHA.
PILLAR 2 · ENERGY & BALANCE
Support the body so the skin can respond.
Mg Albion · saffron · active B vitamins · CoQ10 · vitamin C. Because stress and fatigue show on the skin.
THE 4 PROOFS
01 · SUPPLIERS
Made in France · top 2% global ESG · EcoVadis Gold.
02 · CLINICAL
Published RCTs on Reggenerate®, ExceptionHYAL®, SkinAx²™.
03 · ADHERENCE
2 caps/day vs 9–14 at competitors.
★ EXCEPTIONAL
04 · PRICE
42–45€ for 9–11 actives. Competitors: 49–59€ for 5–7.
Unique value in category — not replicable at this price.
15 — THE PRODUCT SYSTEM
Not just a lineup of products.
Real protocols and loyalty programs.
2 HERO PRODUCTS
HydraGlow — 42€
Hydration · Skin barrier · Glow — 25–40 ans
Fermeté & Well-Ageing — 45€
Anti-aging · Firmness · Cellular energy — 40+
3 MONO-INGREDIENTS & UNIVERSAL BASE
Hyalu Boost — 25€
Entry-level · Essential hydration
Complexe Collagène — 25€
Entry-level · Essential firmness
Omega Glow — 28€
Universal base · Cell priming, energy, mood. In every protocol.
THE 6 PROTOCOLS
01 — Découverte Hydra
Hyalu Boost + Omega Glow — 25–35 yrs — 53€/mo
Hyalu Boost + Omega Glow — 25–35 yrs — 53€/mo
02 — Découverte Anti-âge
Complexe Collagène + Omega Glow — 40+ — 53€/mo
Complexe Collagène + Omega Glow — 40+ — 53€/mo
03 — Intensif Hydra
HydraGlow + Omega Glow — 25–40 yrs — 70€/mo
HydraGlow + Omega Glow — 25–40 yrs — 70€/mo
04 — Transition
HydraGlow + Complexe Collagène + Omega Glow — 38–45 yrs — 95€/mo
HydraGlow + Complexe Collagène + Omega Glow — 38–45 yrs — 95€/mo
05 — Intensif Anti-âge
Fermeté & Well-Ageing + Omega Glow — 40+ — 73€/mo
Fermeté & Well-Ageing + Omega Glow — 40+ — 73€/mo
06 — Régénératif Complet
HydraGlow + Fermeté + Omega Glow — 40+ — 115€/mo
HydraGlow + Fermeté + Omega Glow — 40+ — 115€/mo
5 produits
·
6 protocoles
·
115€/mo max
16 — OMEGA GLOW
Omega Glow.
ONE-LINER
"French algal omega-3s, straight from the source — for cells that work better."
500 mg
DHA/day
5:1
Ratio DHA:EPA
28€
PV TTC
COMPOSITION
Fermentalg microalgae oil — Schizochytrium sp. (FCC-3204)
DHA 500 mg + EPA 100 mg · Natural vitamin E
100% vegan tapioca softgel · no carrageenans
DHA 500 mg + EPA 100 mg · Natural vitamin E
100% vegan tapioca softgel · no carrageenans
DIFFERENTIATION POINTS
01. 100% Made-in-Europe algal DHA (Fermentalg, Libourne)
02. 5:1 DHA-dominant ratio — unique on FR market
03. Top 2% global ESG supplier (EcoVadis Gold)
04. No fish · no heavy metals · no odor
05. Foundation of 100% of Eclo protocols
EFSA
3 validated claims at 2× required threshold: brain, vision, heart.
17 — HYDRA GLOW
Hydra Glow.
ONE-LINER
"Because radiant skin is first a body that works well."
9
Premium actives
2
Pillars
42€
PV TTC
COMPOSITION
Regeneration : ExceptionHYAL® Star (Roelmi) · Céramosides® (Seppic) · Vit C Quali-C (DSM)
Energy & Balance : Mg bisglycinate (Albion) · Safran · Vit B6/B9/B12 · Vit E
Energy & Balance : Mg bisglycinate (Albion) · Safran · Vit B6/B9/B12 · Vit E
DIFFERENTIATION POINTS
01. Only 2-pillar (skin + body) formula on FR market
02. Patented full-spectrum oral HA, published RCT
03. 2 capsules = 7 mono-active products, 9–14 capsules
04. 42€ vs Combeau 59€ (7 actives, no magnesium)
05. Only B Corp in premium oral HA segment
CLINICAL
RCT Eur J Dermatol 2021: +10.6% hydration · -18.8% wrinkles in 28 days.
18 — FERMETÉ WELL-AGEING
Fermeté Well-Ageing.
ONE-LINER
"Firmer skin, more radiant complexion, body that holds up. Move forward with ease."
11
Premium actives
2
Pillars
45€
PV TTC
COMPOSITION
Regeneration : Reggenerate® (CirculEgg, Janzé) · SkinAx²™ (Activ'Inside, Bordeaux) · CoQ10 · Vit C Quali-C
Energy & Balance : Mg Albion · Safran · Vit B6/B9/B12 · Vit E
Energy & Balance : Mg Albion · Safran · Vit B6/B9/B12 · Vit E
DIFFERENTIATION POINTS
01. 2 patented Made-in-France actives — never combined
02. Structure (Reggenerate) + Radiance (SkinAx²) — unique
03. Vegetarian, no odor — vs 5–10g fish powder
04. 45€ for 11 actives · price of a single competitor mono-collagen
05. Carbon footprint 4× lower than marine collagen
CLINICAL
Reggenerate® 6 studies · +78% firmness, -43% TEWL. SkinAx²™ +26% radiance, -21% spots.
19 — PROTOCOL ECONOMICS
The economics of protocols.
The power of recurrence.
75%
Gross margin — HydraGlow
42€ TTC
42€ TTC
78%
Gross margin — Fermeté & Well-Ageing
45€ TTC
45€ TTC
79–82%
Gross margin — Mono-ingredients & Omega Glow
MONTHLY BASKET & LTV PER PROTOCOL (3-MONTH CURE)
PROTOCOL
TARGET
BASKET/MO
LTV 3 MONTHS
01 — Découverte Hydra
25–35 yrs
53€
159€
02 — Découverte Anti-âge
40+
53€
159€
03 — Intensif Hydra
25–40 yrs
70€
210€
04 — Transition
38–45 yrs
95€
285€
05 — Intensif Anti-âge
40+
73€
219€
06 — Régénératif Complet
40+
115€/mo
345€ / 3 mois
Supplement repeat: 6×+ per year per SKU. Highest LTV, highest margin in the Eclo catalogue.
20 — ROADMAP 2026
A 2026 launch roadmap in 3 waves.
Each wave builds on the previous.
JULY 2026
Heroes + Mono-ingredients
HydraGlow · Fermeté · Hyalu Boost · Complexe Collagène
4 protocols. First sales on existing customer base.
NOVEMBER 2026
Universal base + Full protocols
Omega Glow added. All 6 protocols live.
100-store retail activation. 3-month subscription cures.
JANUARY 2027
New skincare segments
Inflammation Fighter · Clear Skin+ · AOX Radiance+
8 products total. Repeat maximized.
21 — SUPERCHARGING REPEAT PURCHASES
A new engine enabling rapid acquisition scaling.
Today, on skincare + makeup, Eclo acquires a customer and waits 6–12 months before a potential reorder. Supplements completely invert this dynamic.
TODAY · SKINCARE
6–12 mo
Before 2nd purchase
Long payback = limited spend
Long payback = limited spend
WITH SUPPLEMENTS
~60 days
CAC payback on 1st order
Additional profit within 60 days
Additional profit within 60 days
YEAR 1 ON FULL PROTOCOL
6–12 cures
delivered in 3–6 orders
(often 2–3 months bundled per order)
636€–1,380 revenue · 75–82% margin
(often 2–3 months bundled per order)
636€–1,380 revenue · 75–82% margin
Skincare: Spend 25€ to acquire → wait 6–12 months → maybe 57€ back. Hard to scale.
Supplements: Spend 25€ → 70€ month 1, 70€ month 2, 70€ month 3. CAC recovered on 1st order.
Full protocol: 115€/mo × 12 = 1,380€/year at 77% margin. LTV:CAC of 30:1+.
Supplements: Spend 25€ → 70€ month 1, 70€ month 2, 70€ month 3. CAC recovered on 1st order.
Full protocol: 115€/mo × 12 = 1,380€/year at 77% margin. LTV:CAC of 30:1+.
22 — NET MARGIN BY MODEL
What each customer actually generates,
after all costs.
25€ CAC (order 1 only). 7€ logistics/order. COGS 22–35% depending on product.
YEAR 1
Eclo 0.1 · Makeup+1€
Eclo 0.2 · + Skincare+15€
Eclo 0.3 · + Supplements+79€
Includes 25€ CAC on 1st order
YEAR 2 CUMULATIVE
Eclo 0.1+1€
Eclo 0.2+20€
Eclo 0.3+154€
Zero CAC in year 2 · Pure margin
YEAR 3 CUMULATIVE
Eclo 0.1+2€
Eclo 0.2+24€
Eclo 0.3+229€
115× more net margin than makeup alone
Net margin = Revenue − COGS − logistics (7€/order) − CAC (25€, order 1 only, year 1 only). Eclo 0.3: Y2/Y3 = 4 orders × 105€, zero CAC.
23 — PROJECTIONS
Eclo 2026–2027–2028
2026
800K€
Net revenue HT
● LFL 66%
● Supplements 30%
Gross margin
572K€ 71.6%
EBITDA
~0€ breakeven
2027
2.1M€
Net revenue HT · ×2.7
● LFL 28%
● Supplements 70%
Gross margin
1.56M€ 73.4%
EBITDA
272K€ 12.8%
2028
5M€+
Net revenue HT · ×2.5
● Supplements >85%
Gross margin
3.75€–4.5M ~75%
EBITDA
0.75€–1.2M 15–20%
Internal projections. 2028 based on acquisition scaling + retail distribution + supplement repeat. EBITDA 2028 = contribution margin after all operating costs.
24 — THE PLAN
300K€ to accelerate.
Cash flow positive from H2 2026.
The current cash position already takes us to break-even 2026 with the supplements launch. These 300K€ are pure fuel to accelerate growth and finance inventory rotation.
USE OF FUNDS · 300K€
Acquisition & content
180K€ · 60%
Marketing fuel — paid social · influencers · UGC · supplement SEO
Supplement inventory rotation
90K€ · 30%
Financing batches 2 & 3 alongside the sales ramp-up
Contingency & working capital
30K€ · 10%
Buffer for seasonality and working capital requirements
CURRENT STRUCTURE
Cash sufficient for first supplement batch and operations. Fixed costs <20K€/month. Lean team of 4.
MILESTONES
H2 2026
Range launch · 2,100 customers converted · 800K€ total 2026 revenue · operational break-even
2027
2.1M€ revenue · EBITDA +272K€ (12.8%) · cash generating
2028
5M€+ revenue · EBITDA 0.75–1.2M€
THANK YOU
Let's build Europe's
clean beauty
supplement leader together.
Certified B Corp · Cosmos Organic
100% Natural · Zero Plastic
100% Natural · Zero Plastic
ECLO BEAUTY — APRIL 2026 — CONFIDENTIAL
APPENDIX — DETAILED P&L
Quarterly P&L 2026–2028.
| € HT | Q1 26 | Q2 26 | Q3 26 | Q4 26 | 2026 | 2027 | 2028 (E) |
|---|---|---|---|---|---|---|---|
| Net revenue | 141K | 127K | 229K | 302K | 799K | 2.13M | 5M+ |
| Of which BtC | 83K | 62K | 152K | 183K | 480K | 1.69M | ~4M |
| Of which B2B | 58K | 65K | 77K | 119K | 319K | 436K | ~1M |
| Gross margin | 100K | 89K | 163K | 220K | 572K | 1.56M | ~3.75M |
| % margin | 71% | 70% | 71% | 73% | 72% | 73% | ~75% |
| Operating costs | -136K | -114K | -149K | -170K | -569K | -1.29M | ~-2.75M |
| Marketing | -30K | -17K | -43K | -51K | -141K | -440K | -1M |
| Logistics | -23K | -20K | -36K | -48K | -128K | -330K | -800K |
| Team/other | -60K | -60K | -60K | -60K | -240K | -426K | -600K |
| EBITDA | -37K | -25K | +14K | +50K | +2K | +272K | +0.75–1.2M |
| % EBITDA | -26% | -20% | +6% | +17% | ~0% | +12.8% | 15–20% |
Operational break-even reached Q3 2026 (supplement launch). 2027 EBITDA = 272K€ (12.8%). 2028 growth driven by acquisition scaling + retail + supplement repeat.
APPENDIX — FINANCIAL TRAJECTORY 2026–2029+
From €0.8M to €10M in 3 years, at 20% EBITDA.
Filled areas = committed plan (2026–2029). Recurring revenue (DTC + B2B) crosses 50% in 2028, ~72% by 2031. Assumes ~50% annual DTC customer retention, blended to ~75% net revenue retention via subscription auto-ship (6-12 orders/yr/SKU), range extension (5 SKUs 2026 → 30+ by 2031 driving cross-sell), and full-year effects. B2B account retention ≥85%.
2026
€0.8M
Launch year · breakeven reached · 2,100 customers converted
2027
€2.1M
×2.7 · EBITDA +€272K · 13% margin · cash generation
2028
€5M+
×2.5 · EBITDA €0.75–1.2M · 15–20%
2029 · TARGET
€10M
20% EBITDA · full retail rollout · EU expansion · subscription base compounding
WHAT DRIVES IT
Supplement repeat 6×+/yr/SKU · subscription adoption >50% · gross margin 75–80% at scale.
EBITDA TRAJECTORY
0% → 13% → 18% → 20% (2029) → 23% (2030) → 25% (2031).
EXIT CONTEXT
Supplement / clean beauty exits typically trade at 3–5× revenue (Nutrafol, Olly, Nutripure precedents).
APPENDIX — UNIT ECONOMICS SENSITIVITY
The model holds in pessimistic scenarios.
3-year LTV per average Eclo 0.3 customer (with supplements). Sensitized variables: CAC, repeat rate, frequency.
| SCENARIO | CAC | % REPEAT | FREQ./YR | 3Y LTV | 3Y NET MARGIN | LTV/CAC |
|---|---|---|---|---|---|---|
| Pessimistic | 40€ | 20% | 2×/yr | 196€ | +105€ | 4.9× |
| Conservative | 35€ | 22% | 3×/yr | 272€ | +177€ | 7.8× |
| Base (plan) | 25€ | 25% | 3×/yr Y1, 4× Y2+ | 359€ | +229€ | 14.4× |
| Optimistic | 20€ | 35% | 4×/yr | 497€ | +342€ | 24.9× |
| Nutrafol benchmark | 30€ | 55%+ | 6×/yr | 800€–1,500 | +600€+ | 25–50× |
EVEN IN PESSIMISTIC
+105€ net margin per customer. 4.9× LTV/CAC. Model remains profitable.
BASE SCENARIO
+229€/customer over 3 years. 14× LTV/CAC. Numbers from internal benchmarks + Nutripure.
UPSIDE
If we approach Nutrafol (55% retention, 6×/yr), LTV/CAC exceeds 25×.
Net margin = Revenue − COGS (22%) − logistics (7€/order) − CAC (order 1 only). All scenarios assume 70€ initial basket and 105€ repeat basket.
APPENDIX — TAM / SAM / SOM
A 3B€ market in France.
An accessible 300M€ share.
TAM · FRENCH SUPPLEMENTS MARKET
Synadiet 2025 · +5.7% YoY · doubled in 10 years
3B€
↓ Beauty & well-ageing focus
SAM · BEAUTY / WELL-AGEING SUPPLEMENTS
~25% of supplement market · Collagen +102% in pharmacy
750M€
↓ Clean / natural / DTC
SOM · ACCESSIBLE CLEAN BEAUTY SUPPLEMENTS
~40% of SAM (80% want natural, 53% want organic)
300M€
↓ Eclo 2028 ambition
ECLO 2028 TARGET
~1.7% of SOM
5M€+
61%
Adults take
supplements
supplements
77%
Take multiple
times/yr · +12pt vs 2021
times/yr · +12pt vs 2021
+25%
Online growth
in supplements
in supplements
+40%
Gummies growth
in France
in France
Sources: Synadiet 2025, IQVIA pharmacy 2024, Xerfi supplements 2024. Europe (Germany, UK, Italy) represents ~3× France = ~9B€ European TAM.
★ CONFIDENTIAL · details on request
APPENDIX — OMEGA GLOW · FERMENTALG SUPPLIER
Omega Glow — the universal foundation.
"French algal omega-3s, straight from the source — for cells that work better, and skin that is more hydrated, less reactive, more luminous."
TECHNICAL DATASHEET
| Supplier | Fermentalg — Libourne, 100% Made in Europe |
| Algae | Schizochytrium sp. FCC-3204 |
| DHA / day (2 caps) | 500 mg — 2× EFSA threshold |
| EPA / day | 100 mg |
| DHA:EPA Ratio | 5:1 — DHA-dominant, unique on FR market |
| Forme | Natural triglycerides (nTG) — best bioavailability |
| Capsule | Tapioca softgel — 100% vegan, no carrageenans |
| COGS / PV | 5,2€ → 28€ TTC · 80% margin |
FERMENTALG · SUPPLIER
2009 · Libourne · Euronext-listed (ALGAE) · 13.4M€ rev 2025 (+17%)
Top 2% global ESG (EcoVadis Gold)
Exemplary 90/100 rating EthiFinance ESG 2024
+10 000 m³ fermentation capacity
ISO 22000 · 14001 · cGMP · GOED
EFSA authorization up to 1,000 mg DHA/day
Top 2% global ESG (EcoVadis Gold)
Exemplary 90/100 rating EthiFinance ESG 2024
+10 000 m³ fermentation capacity
ISO 22000 · 14001 · cGMP · GOED
EFSA authorization up to 1,000 mg DHA/day
DIFFERENTIATION POINTS
01. Only European algal DHA producer — 100% Made in Europe
02. 5:1 DHA-dominant ratio — unique cellular beauty territory
03. DHA 500 mg = 2× optimal EFSA threshold for brain + vision
04. No fish, no ocean, no heavy metals
05. Vegan tapioca capsule, no carrageenans, no allergens
Validated EFSA claims: normal brain function · normal vision · normal heart function — all with 2× the required threshold.
★ CONFIDENTIAL · details on request
APPENDIX — HYDRA GLOW · HYDRATION + BODY
Hydra Glow — 9 actives, 2 pillars, 42€.
"Hydrated skin, reduced wrinkles, restored elasticity — and a body that finds its balance. Because radiant skin is first a body that works well."
FORMULA · 2 PILLARS
| PILLAR | INGREDIENT (SUPPLIER) | DOSE/CAP | KEY ACTION |
|---|---|---|---|
| REGENERATION | ExceptionHYAL® Star (Roelmi HPC, IT) | 112,4 mg | Full-spectrum HA · -18.8% wrinkles · +10.6% hydration (28d RCT) |
| Céramosides® Neutra (Seppic, FR) | 15 mg | Lipid barrier · reduces TEWL · skin comfort | |
| Vitamine C Quali-C 98,8% (DSM, CH) | 36,4 mg | Collagen synthesis (EFSA) · antioxidant | |
| ENERGY & BALANCE | Mg bisglycinate (Albion, US) | 187,5 mg | Fatigue reduction · cellular energy · 300+ enzymes |
| Safran ES 0,4% | 15 mg | Mood · stress management · emotional comfort | |
| Vit B6 P5P (Achem, CH) | 0,21 mg | Metabolism · neurotransmitter cofactor | |
| Vit B9 Quatrefolic® (Gnosis, IT) | 0,033 mg | Active L-MTHF form · folate metabolism | |
| Vit B12 Méthylcobalamine (Gnosis, IT) | 0,225 mg | Cellular metabolism · nervous system | |
| Vitamine E D-alpha-tocophéryle (DSM) | 8,9 mg | Liposoluble antioxidant · synergistic with Vit C |
CLINICAL
Published RCT (Eur J Dermatol 2021): +10.6% hydration · -18.8% wrinkles · -17.6% wrinkle volume · +5.1% elasticity.
ADHERENCE
2 capsules replace 7 mono-active products, 9–14 capsules/day. The price of a single premium product.
POSITIONING
42€ — vs Combeau 59€ (7 actives without Mg). Only B Corp in premium oral HA segment.
★ CONFIDENTIAL · details on request
APPENDIX — FERMETÉ WELL-AGEING · STRUCTURAL ANTI-AGING
Fermeté Well-Ageing — 11 actives, 2 pillars, 45€.
"Firmer skin, reduced wrinkles, more radiant complexion — and a body that holds up. To move through life with ease, without forcing."
FORMULA · 2 PILLARS
| PILLAR | INGREDIENT (SUPPLIER) | DOSE | KEY ACTION |
|---|---|---|---|
| REGENERATION | Reggenerate® (CirculEgg, Janzé FR) | 150 mg | Matrix collagen I/V/X + elastin + HA + GAGs · NPU 84.7% |
| SkinAx²™ (Activ'Inside, Bordeaux FR) | 75 mg | Collagen +34% · radiance +26% · spots -21% · under-eye -19% | |
| CoQ10 Ubiquinone 98% | 15,3 mg | Mitochondrial bioenergy · liposoluble antioxidant | |
| Vit C Quali-C (DSM) | 36,4 mg | Collagen cofactor (EFSA) · antioxidant | |
| ENERGY & BALANCE | Mg bisglycinate (Albion, US) | 150 mg | Fatigue reduction · cellular energy |
| Safran ES 0,4% | 15 mg | Mood · stress management | |
| Vitamine E D-alpha (DSM) | 8,9 mg | Antioxidant · CoQ10 + Vit C synergy | |
| Vit B12 Méthylcobalamine (Gnosis) | 0,225 mg | Cellular metabolism · nervous system | |
| Vit B6 P5P (Achem) | 0,21 mg | Enzymatic cofactor | |
| Vit B9 Quatrefolic® (Gnosis) | 0,033 mg | Active L-MTHF form |
REGGENERATE®
6 studies incl. 3 RCTs: +78% firmness · -43% TEWL · +66% elasticity · +25% hair density.
SKINAX²™
8 weeks: +25.9% radiance · -20.7% spots · -19.2% under-eye · 82% satisfied.
POSITIONING
45€ for 11 actives · vs marine collagen competitor alone 35–49€. Only anti-aging B Corp.